I prefer the brute force method:
Unplug the computer, open it up, remove the battery, remove CMOS battery, press the power button to discharge whatever residual power is left in the caps, wait 10 to 30 seconds, replace the battery, plug in and power up the computer. All BIOS values will be reset, including the password.
Note: That may not be so convenient for a laptop, though, so this method would probably work well there.
This doesn't work for modern laptops, as the password values now reside in NVRAM or FLASH, not CMOS with a 1F supercap or battery. So, try it for once if it works.