By clearing the CMOS, it should reset all the BIOS options to default, including the password. You might have to read the manual to locate the jumper on the mobo that allows you to do that. Usually, there are three pins located near the bottom of the board that, by moving the jumper one pin to the left or right, would clear the CMOS. Alternatively, you might be able to just unseat the battery thus also clearing the CMOS.
To be honest, I don't know for sure what repercussions, other than resetting the BIOS options to their default values, doing those things would do. Sorry.
Hope that helps.
