I'm having a similar problem. I have DSL service and the modem disconnected and wouldn't reconnect. I called AT&T and they remotely reset the password on the modem. From that point on I haven't been able to get my Airport Extreme to work properly. I can connect my iMac directly with an ethernet and PPPoE connection, I can connect the Airport Extreme base station directly with the Ethernet cable and get all the green lights to work. I can connect my iMac and other devices to the Wi-FI that's created, but I can't get to the internet through that Wi-Fi connection. If I go to a browser I get a redirect to an AT&T problem page.
AT&T said they could fix my Airport Extreme problem, but I'd have to be routed to their for-fee line and pay either $49 for a one-time fix or $120/yr for an annual plan.
I've tried to reset my AP base station multiple times, I've deleted my connections and key chain passwords as Tesserax has suggested. This just doesn't make sense to me. Why can't I just set the Airport station up as if it were new out of the box? What did AT&T do to me?
In summary - I can get internet connection to my iMac with a direct ethernet connection and I can get Wi-Fi to run and sort of be recognized, but I can't get internet access (past the AT&T redirect) through the Wi-Fi.