There is no simpler solution as Ive figured out the card reader wont read it even if U've got one, if your card is locked.
the password for your mmc resides in "C:\system\mmcstore"
there are two solutions:
1) either U copy it to your phone from the old one where it was working.
2) send this file to your PC and rename it to "mmcstore.txt" and recover the password.
Ahmed zubair, December 2006