You’ll need to perform a level 2 factory reset to clear the passwords which is described in the document below in section 6.2.2
It’s important to watch the USR LED while you’re doing this to make sure you do a level 2 factory reset. A level 1 reset is held down for about 30 seconds and is indicated by a red flashing USR LED. A level 2 is for 35 seconds and is indicated by a solid red USR LED.
To do this turn the device off, and while the device is off, push the reset button on the left of the BI1 LED. Next, turn the device on while keeping the reset button pushed down. When this is pushed down, you should see the BI1 LED turn on. You’ll need to keep this held down until you see the USR LED turn solid red. Then you can release the button and wait a few seconds before cycling the power on the device.