You don't mention what versions you are using, of UBCD, of Offline NT password and of Windows.
If I understand correctly, the problem you have is with the Administrator password of Windows, correct?
I ask because there are other types of passwords (BIOS or HDD for example).
In general, you should customize UBCD latest stable version (currently, 5.0.3) with the latest Offline NT password version.
To customize UBCD: http://www.ultimatebootcd.com/customize.html
To get the latest Offline NT password version: http://pogostick.net/~pnh/ntpasswd/
(this is specially recommended if you have Windows Seven).
AFTER updating, a general recommendation is to wait a little more time when you select your steps, like indicated in this topic:http://www.ultimatebootcd.com/forums/viewtopic.php?f=9&t=2112
Other possible topics with similar issues or suggestions are:http://www.ultimatebootcd.com/forums/viewtopic.php?f=11&t=2533http://www.ultimatebootcd.com/forums/viewtopic.php?f=10&t=2554http://www.ultimatebootcd.com/forums/viewtopic.php?f=13&t=2681http://www.ultimatebootcd.com/forums/viewtopic.php?f=10&t=2338
You also may try Ophcrack http://ophcrack.sourceforge.net/
(which you can also add to UBCD by customization (search the forum for instructions)
There are more options, but try first with the more simple ones.
This is a known "step-back" when dealing with this problem, so searching in several forums could give you the very best answer even without posting the question.
Please came back with your results, so it could be useful for others too.