...Almost forgot. PWL files only exist on a Win9x machine. WinNT has a large database called the SAM that stores the usernames and passwords. So this information is not at all applicable to a real machine (IE WinNT, Linux, Etc.) Albeit there is a util called NTFSDOS that allows you to access an NTFS drive via a boot disk thus bypassing all security. Neat, eh? (This is why NT can't get above a C2 rating. Their file system isn't even secure.) Check out http://ntsecurity.nu/ for some of the utils mentioned. (Go to the toolbox.)

P.S. Another way I found to bypass NT security (in case you need to access files on the drive while in NT) is to install NT on another drive, make it the master with the to-be-attacked as a slave, and boot. Since you're Administrator in the one you installed NT to, you can thus access all of the target drive with Administrative rights.