Locked out of my account – help!

I’m running Windows 7 on this laptop, but I don't have administrator rights—nor do I have the password. Every time I try to install anything, it just hits me with a password prompt immediately.
I need to know if resetting the system will clear that restriction—and more importantly, is it even possible to perform a system reset if I'm locked out by the password?

If by "reinstalling" you mean doing a clean install of Windows from a bootable drive—like a USB or DVD—then yeah, that’ll wipe the current installation. That means those admin password restrictions won't matter anymore since you're starting from scratch.

You really could have just gone with