Instructions
Turn off the system by holding the power button down until the power indicator light flashes. When the green light turns into a red light, the system is off.
Hold down the power button for at least five seconds.
Release the power button when the console beeps twice and the power indicator light blinks. The PS3 will reboot with all options set to factory default configuration.
Reconfigure your settings, as all options will be reset. System, audio, video and network settings all must be reconfigured to restore the PS3 to your preferred user configuration.