Click Start, Run and type Control keymgr.dll
Remove the entries from the list.
The other ways to access this dialog are:
Type Control Userpasswords2 in RUN box, click Advanced, Manage
Here are a few more places to check:
The password is stored in the Protected Storage area in the XP
registry. To remove the stored password for the Network location,
follow these instructions:
Click Start, Run and type REGEDIT and press Enter
Navigate to the following key:
HKEY_CURRENT_USER \ Software \ Microsoft \ Protected Storage System
Provider \ <SID for your Account>
Assign your user account Full Permission for this key, and sub-keys.
Once done, press F5 key to refresh the registry view.
Locate the appropriate sub-key which contains the MS IE FTP Passwords.
Hint: Look for the MS IE FTP Passwords Display String value in the
right-pane for each sub-key. The password may be stored here: (The
<SID> string varies)
HKCU \ Software \ Microsoft \ Protected Storage System Provider \ <SID>
\ Data \ 5e7e8100-9138-11d1-945a-00c04fc308ff \ 00000000-0000-00
Once you locate the correct sub-key, backup the key to a REG file
Delete the key which contains the user name & password for that Network
Now, Undo the Permissions settings done in Step 3 above
Close Registry Editor
Hope this helps you out,