The below PowerShell script will Allow you to change the password of the local administrator account.

#!powershell

# Setup Key Values
###################################
$newpassword = "YourNewPassword"
$ErrorActionPreference = "Stop"
$hostname = "$env:computername"

# Create computer object
$computer = [ADSI]("WinNT://$hostname,computer")

# Get local users list
$userList = $computer.psbase.Children | Where-Object

# Changing the Administrator Password Account
######################################################

foreach ($user in $userList)

###################### ANOTHER WAY ################################

If you would like something fast and dirty, this is a two line script

$Password = ConvertTo-SecureString "YourNewPasswordHere" -AsPlainText -Force
Set-LocalUser -Name "UserName" -Password $Password