There's a reason why Thinkpads are so expensive and why they are used by corporations worried about security.
There are three BIOS level passwords possible on an IBM Thinkpad: BIOS security password, mobo security password, Hard Drive Password.
You can easily reset the BIOS security password like you can on any computer - just reset CMOS either by jumpering a CMOS reset header or pulling the battery and CMOS battery and letting it sit for an 20 minutes. This info is usually available on IBM's website via the service manual.
The other two passwords CANNOT be reset except by replacing the hard drive (for the HDD password) or replacing the mobo (for the mobo password) or sending the laptop to a company that will unlock them for you for an absurd amount of money ($500+ I believe last time I checked). Do a google search for "clear thinkpad password".
You also cannot unlock, read or format the hard drive by putting it in another computer - the data still won't be accessible if the drive is locked.
On some older Thinkpads there's a socket on the mobo that you can make a special resistor jumper for that will clear the mobo password, and there's plans for that on the internet if you search for it, but that hasn't worked for a long time (laptops made 4 - 5 years ago).
Basically if the mobo is password locked and you don't know the password, then the laptop essentially has a dead mobo as far as you're concerned.
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