Password on Personal Folders

The first thing I'd recommend in this situation is to make sure that the Personal Folders file (*.PST) is not write-protected. Right-click on the file and make sure that Read Only is NOT enabled. That will lock a file to Outlook's view and prevent access.

If the file is not read only, then you'd need to purchase one of the password crackers available for your version of Outlook or whatever e-mail software you are using.

I don't know your OS, mailing app and network enviroments. For NT with Outlook you can do this:
Make sure you have full rights on folder that contain <*.pst> file.
Login with full rights account and use options to recover data.
Also you can remove all user settings about mailing (store folder,profile,etc) and after that set again(eventualy copy PST file in other folder as bakup).

http://www.securiteam.com/tools/6G00B1F0AS.html

Link may wrap. This points the way to a free tool called pst19upg.exe. MAKE A BACKUP of the pst file before you run this program.

If you still need a password break for PST files, check here for available products:

http://msexchange.org

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