I forgot the password I entered during postgres installation

I either forgot or mistyped (during the installation) the password to the default user of Postgres. I can’t seem to be able to run it and I get the following error:

psql: FATAL:  password authentication failed for user "hisham"
hisham-agil: hisham$ psql 

Is there anyway to reset the password or how do I create a new user with superuser privileges?

I am new to Postgres and just installed it for the first time. I am trying to use it with Rails and I am running Mac OS X Lion.

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