I forgot my Personal Folder File Password
If you have protected your outlook PST files with password and did not selected the Save this password in your password list check box, then MS Outlook will prompt the following window every time you launch the client:

You need to type correct password allocated to the PST file to access your outlook mailbox. In any event, if the password is incorrect, the email client will display the following error message:
“The password you have typed is incorrect. Retype the password”
To open PST file, you need to provide correct password and if you have forgot it, then there are no chances of PST file password recovery with any inbuilt feature of MS Outlook. To recover PST file password, you then need to download a third party tool for pst password recovery.
Kernel for Outlook Password recovery is a FREE tool to recover lost/forgotten passwords of PST files. Just download the software setup. No purchase request, no complications of filling the purchase form,just download and run it to recover the PST password.
With instant password recovery it supports recovery of multilingual password characters and strongly encrypted passwords. It supports password recovery from PST files created with MS Outlook 2010, 2007, 2003, XP, 2000, 97.
For more information about pst password recovery, visit http://www.nucleustechnologies.com/outlook-password-recovery.html