Can the only administrator account password be reset on Windows 8?

I have setup a machine for a relative that have children, I made myself an account on the computer which is the only administrator account.

I have forgotten the password that I had setup the administrator account on the machine.

I did not create a recovery disk on setup nor did I associate any MS account with my user account.

Is there any way to reset the password on this account? Or make another administrator account?