I hasten to add that this has not happened to me (so far), but I wanted to record for future reference.
Raul Garcia's blog post
Disaster Recovery: What to do when the SA account password is lost in SQL Server 2005 lists a step by step procedure for disaster recovery in such a situation.(Note: Raul's blog has moved to the
SQL Server Security blog).
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posted by Mitch Wheat @ 1:06 pm