locked out of iridium starburst notebook

i bought this machine at an auction, on the screen was the windows xp logo so appeared to be working as normal, the auctioneer told everyone that it was passworded but provided a piece of paper with the password wrote on it. but when i got it home and tried it. all that happened was a dialogue box opened asking for a password. needless to say i have tried a few combinations but all to no avail. so what happens now can i use it? or is it a bin-job?

 

try if u cn installing new OS its the only thing i can think of

 

no nothing works
the dialogue box asks for the password
i have tried entering set-up but can't see anything to alter to improve things