Network Password Recovery

Location Network Password
Windows Network Passwords (XP/Vista/2003): When you connect to the file system of another computer on your network (something like \\MyComp\MyFolder), Windows allows you to save the password. If you choose to save the password, the encrypted password is stored in a credential file.

The credential file is stored in the following locations:

• Windows XP/2003: [Windows Profile]\Application Data\Microsoft\Credentials\[User SID]\Credentials and [Windows Profile]\Local Settings\Application Data\Microsoft\Credentials\[User SID]\Credentials
• Windows Vista: [Windows Profile]\AppData\Roaming\Microsoft\Credentials\[Random ID] and [Windows Profile]\AppData\Local\Microsoft\Credentials\[Random ID]
  

Where the network passwords are stored?
Older versions of Windows (Windows 95,98 and ME) stored the network passwords in pwl files located under the main Windows folder.
Starting from Windows XP, the network passwords are encrypted inside the Credentials file, located under Documents and Settings\\Application Data\Microsoft\Credentials\. Some passwords may also be stored in the Credentials file under Documents and Settings\\Local Settings\Application Data\Microsoft\Credentials\.
In addition to the passwords of network shares, Windows XP also stores the passwords of .NET Passport (MSN Messenger) in the same Credentials files

(Info from Nirsoft)