Yes, someone is breaking into your house and you're fumbling around in the dark trying to see the keypad on your gun while they club you or shoot you.
I don't think this is an idea (http://www.newscientist.com/blog/invention/2006/06/password-protected-bullets.html) that will go very far.
Makes me think of Judge Dredd's Lawgiver gun.
"Double Whammy!
Makes me glad I own a press, dies, molds and have a supply of lead. I can also make my own powder if need be.
I'm sure you can log in somewhere for a 'I forgot my password' function.
Yes, but that might be a bit inconvenient in the middle of fire fight.
It has a easy, simple solution: attach the optional speaker and microphone to the USB ports of the magazine and when the gun asks the "forgot my password" question (i.e. "What's the name of your pet?"), say the answer to the microphone in a clear, monotone, emotionless and loud voice. Note that the magazine may ask similar questions everytime the gun is fired until checked by an expert who will validate your identity and re-program it.
See? Nothing to worry about.
Of course, at that moment the blue screen of death will pop up