Instructions
Turn on your Xbox (without a disc in the device).
Grab your Xbox controller and scroll down to "Settings." Then press the "A" button.
Scroll down to the "Parental Control" option and press the "A" button again.
Press the following four buttons in order: "X," "Y," "Left trigger" and then "X." After you have done this, you can reset the parental control password on your Xbox.