Yas.
Use that code to enter the BIOS.
Reset all enabled passwords.
When asked for CURRENT password enter your code.
When asked for NEW password just hit enter.
When asked to VERIFY password just hit enter.
Save and exit.
REO
I must inform you that these services are not endorsed by HP, and that HP is not responsible for any damage that may arise to your system by using these services. Please be aware that you do this at your own risk.