Set-Item -Path DellSmbios:\Security\SystemPassword “” -Password <existing System password>
NOTE:
To clear the system password where both Admin and System passwords exist, you must provide either the Admin or System password.
If the System password and/or HDD password are set, the Admin password cannot be set.
If the Admin password is set in the system, and you want to configure BIOS tokens/features, you must provide the Admin password.
If the Admin and system passwords are set in the system, and you want to configure BIOS tokens/features, you must provide the Admin password.
If the Admin and system passwords are set in the system, and if you want to configure BIOS tokens/features as well as change system password, you must provide either the System or the Admin password.
Generic disclaimer
Powershell PSReadline module saves every console command that you enter to a text file. So it is recommended to use "Get-Credential" commandlet to handle the password securely.
$cred = Get-Credential
Enter your username and password, for example, AdminPWD and Dell_123$, when the dialog box is displayed.