I haven't tried this, but I think it should work.
If it is a floppy install:
1. create a new 027 floppy and configure it. Assign root a password you can remember

2. insert the new floppy in one of your other machines
3. copy the password file (guess it is /etc/passwd) to your other machine
4. insert your original floppy in the other machine
5. copy the password file to the original floppy
6. boot FREESCO from the old floppy, now the new password should be valid
If it is a HD install
1. create a new 027 floppy and configure it. Assign root a password you can remember

2. Boot the FREESCO machine from the floppy
3. After booting, mount the HD. I am not sure about exact mount points, but something like
$ mount -t auto /dev/hda1 /mnt/hd
should work
4. Look up the passwd file on the HD, maybe in /mnt/hd/router/etc ?
5. Owerwrite the old passwd file with the file on your floppy.
6. Unmount the HD:
$ umount /mnt/hd
7. Reboot your FREESCO, remove the floppy and let the box boot from the HD. Now the new password should be valid.
As said earlier, this is untested so you may need some additional tweaks. But I really - REALLY - think you should ditch the old install and make a fresh install of 038
This is Linux country. On a silent night you can hear Windows reboot.