ADMINSTRATIVE PASSWORD?!?!
The Quickbooks is asking for an OWNER PASSWORD. The owner password that is on file doesn't work. What do I do now?
The Quickbooks is asking for an OWNER PASSWORD. The owner password that is on file doesn't work. What do I do now?

Passwords are case-sensitive. Be sure you're using the upper- and lower-case letters in the password. Also, make sure you're not using zero (0) for capital O or vice versa.
What version of QB for Mac are you using? Was it upgraded from an older version?