Are you running PostgreSQL ThingWorx? For PostgreSQL you could try with:
1. Using pgAdmin III or psql, connect to the ThingWorx database with the ThingWorx DB user password .If necessary, the database username and password can be retrieved from the platform-settings.json file located in the /ThingworxPlatform directory on the ThingWorx server.
2. Run the following SQL statement:
UPDATE user_model SET "passwordHash" = '100000:ecbad5a6dc172f92cddd4743e6b4877724e0c675e6e2fc1c780ab62a2350f115acdbd3c6c582afd297a4c77fb5420520e3f36c2c5e12dbfc5fc9c4f3fc2d616d:6fd6785de35b500fb633ab13be4207dead6c26f922b32610c135f446fea2d4abbce57be9058457cddd4e3944fcf42b804c29dc8939a3c29ca6ac64001d0a982c' WHERE name = 'Administrator';
In my example, the password will be "admin"
But this is just for some urgent case and you have no other choice. Directly changing database is not advised.
Do you have an application key associated with the Administrator?
I tried updating my Postgre with the SQl statement you mentioned and got it updated. However when I type admin as the password, it still doesn't work. Can you please confirm the password again?