win98 PWL file decryption

There's a freeware you try out at http://www.soft32.com/download_77815.html

WASP displays all passwords of the currently logged in user that are stored in the Microsoft PWL file password database. It allows the convenient management (i. e. supervision and /or deletion) of this file to improve the security / privacy of your PC. It is also very useful for educational purposes about computer security.
 
the enryption method different from windows xp?
NT/2000/XP store a hash of the password using one of two algorithms (LanMan or NTLM, depending on length). Those passwords cannot be decrypted, they must be brute-force reversed, and the length of time required to do that depends on the length and complexity of the password.
 
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