There is no point whatsoever in changing password lists etc. as the other person could just use the same technique?

Exactly, which virtually make's these OS'es kinda suck. The technique can be used anyway, which mean's and which make's the Win95/98/ME password system a waste.

If you are afraid of losing or forgetting your password, I suggest that you write it down and keep it in a safe place
Another good point, but that goes along with any password-formulated thing (email's, IM, logging into things, etc).