GDrive Slim Encryption Issue

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Oct 16, 2012
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I bought a new GDrive Slim 500GB hard drive from my local Apple store and set up to link with my Mac Book Pro with time machine + encrypted it with a password. I then went on holiday and forgot my password!!
Stupid i know!
Anyway, anyone know a way to reset the hard drive or is this going to be a pretty expensive mistake? - New drive required?

Thanks
 

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