I have a PA516 keysafe usb stick & i have forgotten the password

Get this password tool for free (giveaway will expire after 15 hours):
https://www.giveawayoftheday.com/password-recovery-bundle/

It allows you to create a bootable CD/USB that can help you remove forgotten Windows password.

perhaps a call to the manufacturer will produce the combinayion

Setting the Combination
1. Remove the key holder from the KeySafe by pressing the RESET button, followed by the OPEN button. Pull down on the key holder from the bottom of the KeySafe
2. Remove the bracket. Press the Release tab on the bracket and slide the KeySafe upward until it is free of the bracket.
3. Remove the plastic card attached to the bracket. You will see ten numbered buttons with arrows. These numbers correspond to the numbered buttons on the front of the KeySafe. An up arrow indicates that the button is not selected, a down arrow indicates that the button
is selected as part of the combination.
4. Using the screwdriver tip on the plastic card, apply light pressure
to rotate the arrows on the buttons you've selected for your combination a half-turn to the downward position until it snaps into place. Caution: The arrows must either point up or down, with downward arrows representing the numbers in your combination. If any arrow is pointing left, right, or is not fully seated when turned downward, the combination will not work. Improperly setting the combination is not covered under the warranty.
5. Return the plastic card to the bracket for future use

Boot from your Apple OS DVD/USB stick and you will have the option to reset password.

http://majorgeeks.com/Dr._Freeware_System_Utilities_d6416.html

Support IDE/SATA/USB Hard Drives memory cards USB Memory Drives

Windows Password Cleaner
Available in Live CD to run offline
This is a utility to blank the password of any user that has a valid local account on your Windows system.
You do not need to know the old password to blank the password.

hope this helps

http://majorgeeks.com/Dr._Freeware_System_Utilities_d6416.html Dr.Freeware System Utilities which includes data recovery software, data backup, password reset tools for Windows helps you to maintain your system. Dr.Freeware is freeware, you can download and use it for free.
Hope this helps

No - otherwise what would be the point of it!

No problem! We can recover most Windows admin and other user passwords.
Just download our windows password Recovery Tool 3.0 to recover your lost Windows passwords.
How does it work?

Just use the box below to download the utility. This is a ".exe" file which will burn itself onto a blank CD. Then pop the CD into your locked PC, and
boot from the CD.

If you have an Internet connection on your locked PC then it will automatically upload the encrypted password to our server for decryption. Once
decrypted, we will send you an email advising you where to log in to view your Windows password.

If you don't have an Internet connection to your locked PC, you can extract the encrypted password to a USB stick and upload manually to our website for
decryption.

It supports usb flash drive too.

Forgot admin password

You can create a Windows password reset disk(CD/DVD or USB) to reset your lost or forgotten Windows password, i have created one with the tool Windows Password Breaker and reset my administrator password successfully. You can have a try.

Yeah! You can. As far as I know, third party software Windows Login Recovery is used to reset forgotten windows password and the windows password reset file can be stored in a USB flash drive.