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Be honest—when did you last change the local administrator password on all the computers in your network? If you don't have a third-party tool that does the job for you, you probably postponed this annoying task until you have a little more time. Of course, we both know that you will never have more time. So you had better do it right now. Believe me, you will feel better afterwards.
With the Password Assistant tool from Netikus.net, you won't need much time for the task anyway. The little portable GUI doesn't expect much input from you. You just have to tell the tool the account name, the old password, and the new password.
To list all the computers in your LAN, you have to click "Fill List." If you want to change the administrator password on all listed computers that show up, you have to click "Update" now. Password Assistant allows you to import the computers from a text file, and you can also type in the computers names. Note that you have to add "\\" in front of the computer name in the filter field.
A while back I discussed the similar tool NetWrix Bulk Password Reset. The main difference between Password Assistant and the NetWrix tool is that with the latter, you reset the password, whereas with the Password Assistant you change the password. "Resetting" means that you don't have to know the current password, whereas to "change" the password you have to specify the old password. Changing the password is usually the preferable method because, if you reset the password, the user might lose data such as EFS encrypted files or stored Internet Explorer credentials.
Password Assistant belongs to the admin tool set NT Toolkit, which I reviewed last year. Password Assistant hasn't been updated for some time, but in my test it worked flawlessly on Windows 7.
Other tools to change the administrator password on multiple computers are AutoAdministrator (now only $49 USD) and ManageEngine Desktop Central ($295 USD). Note that both tools are much more sophisticated and offer additional desktop management features.