Just because no one has pointed it out, the administrator also likely either has access to the database or knows someone who does. Even if you don't have the ability to utilize the SAME algorithm that Wordpress uses (Which unless they did something special that most PHP programmers don't do, it's most likely just MD5), it's not hard to create an additional user that you DO know the password to and then do UPDATE wp_users SET password=(SELECT password from wp_users where user_id=knownpwid) where user_id=adminid .. well, with whatever the fields would be in wordpress (don't have the database open in front of me).
Not the easiest thing in the world, but even if this was some end-all be-all 'lock out the admin' and did not generate a notification, unless the entire database becomes compromised (which would probably be indicative of having bigger problems than a buggy wp) the fix is always available and will work universally.