How can I completely restore my eMac to factory settings without the terminal and computer password?

I recently bought an eMac (running 9.2) at a garage sale for $15. It was so cheap because the password is unknown. I bought it thinking that I could just open up the terminal on start-up and reset the password and put in my system restore disks from my other eMac. Whenever I turn on the computer it goes instantly to a screen that says "Searching for the Macintosh Manager Server... (Can't find server on network.)" and my only buttons are "Pick Server","Offline","Finder", and "Shut Down" (all of which require the company's password).I have tried "command + w" on the start-up to run the terminal to reset the password but the computer will not open terminal. The woman I bought it from got them from a company that is no longer in business and cannot retrieve the password. Is there anything else I can do to restore this Mac or change the password? Any help or information would be much appreciated!