First, make sure caps lock is not on.
Boot into Recovery by holding down the key combination command-R at startup. Release the keys when you see a gray screen with a spinning dial.
When the OS X Utilities screen appears, select
Utilities ▹ Terminal
from the menu bar.
In the Terminal window, type this:
resetpassword
That's one word with no spaces. Then press return. A Reset Password window opens.
Select your boot volume if not already selected.
Select your username from the menu labeled Select the user account if not already selected.
Follow the prompts to reset the password. It's safest to choose a password that includes only the characters a-z, A-Z, and 0-9.
Select
▹ Restart
from the menu bar.
You should now be able to log in with the new password, but your Keychain will be reset (empty.) If you've forgotten the Keychain password (which is ordinarily the same as your login password), there's no way to recover it.