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Nov 14, 2015 4:00 PM in response to maggieinnewjerseyby Niel,Not unless a problem occurs. Back your data up before proceeding.
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Nov 15, 2015 6:47 AM in response to maggieinnewjerseyby MrHoffman,That you have no backups here is a big problem — hard disks and other storage devices can fail catastrophically, and at any time.
Computers can be lost or stolen or damaged, too.
Always have backups.
As for your question: The administrator password can be reset with physical access, and without a reinstallation.
The keychain passwords are encrypted with a password, and will be inaccessible without that password, and there's no recovery for that — you'll have to start a new keychain.
And no, the existing data on the disk won't be effected here, unless you choose to erase the disk, or unless there's a corruption or other failure with the reinstallation. Or a problem with the password reset.
But unless there's little of value stored on the system, always have a backup. Or two.
Related: changing passwords