Hi, I just found the solution, my admin password was okay; The problem was that once you add the administrator email, (settings-> users -> administrator) the administrator username also changes from the default 'admin' to the email you have put and 'admin' does not work for login anymore. I used the followin postgresql query to confirm my new username and password. Unfortunately I can't post the link as I don't have enough karma.

1. Take on postgres user privileges

you:-$ sudo -sHu postgres 

2. Start up the PostgreSQL command line with the list command to list all databases;

postgres:-$ psql -l (not a 1 but a small L)

 Name       |  Owner      | Encoding |   Collate         |    Ctype         |   Access privileges   
----------------+----------------+--------------+---------------------+--------------------+-----------------------
 odoo1       | openerp     |    UTF8   | en_US.UTF-8 | en_US.UTF-8 | 
 postgres   | postgres    | UTF8      | en_US.UTF-8  | en_US.UTF-8 | 
 template0 | postgres     | UTF8      | en_US.UTF-8 | en_US.UTF-8 | =c/postgres          +
                |                   |               |                      |                      | postgres=CTc/postgres
 template1 | postgres     | UTF8      | en_US.UTF-8  | en_US.UTF-8 | =c/postgres          +
                 |                  |               |                      |                       | postgres=CTc/postgres

3. identify the database that is for your openerp. For me it was easy as the owner was "openerp", and the name "odoo1"

4. Fire up the PostgreSQL command line and select your database as below; use database identifed from step 3.

postgres:-$ psql -d odoo1

psql (9.3.4)

Type "help" for help.

5. Query your database by asking it to display all logins, passwords from the table "res_users". This is the odoo store for logins and passwords

yourDataBaseName=#Query login, password from table, 

odoo1=# select login, password from res_users;

      login        | password

  --------------------+----------

   rick                | rick123

admin@bit.co.ke | WheyHaarD4u2Guess

(2 rows) 

odoo1=#