a lot of tools available if you do google search. For instance, http://www.intelore.com/pst-password-recovery.php

I personaly haven't tried the above one.

Short answer is yes, is can be done, long answer is it can be done in a supported or unsupported fashion. Microsoft do not support you breaking your own PST password, but there are loads of people who ahve created utilities to do so. I *MUST* add that you do this at your own risk, esp since some of the tools out there still don't know what a UNICODE pst is.

Doing a google on "recover pst password" shows up a ton of results. I suggest you go for someone who's willing to give you either a reference or half or the password, and MAKE A BACKUP before you start.

You can also give a try to this: http://www.nucleustechnologies.com/outlook-password-recovery.html

The pst password recovery software can definately work with the recovery of your forgotten password.

-------------
Data recovery software solutions for successful data recovery
http://www.nucleustechnologies.com