Is it possible to recover the password for the "owner" account?

There is three users on my macbook two of which i have acces to, the third however i dont remember the password to. This third account is also the first account ever made on the macbook. meaning that without the password i cant update my software. I have tried changing the password, and the hint on the login changes, but the actual password doesn't work.

Is it possible to recover this password? what should i do next?