Resetting the System Keychain in Mac OS X

To reset your keychain in Mac OS X 10.4, or Mac OS X 10.5 Leopard, or later:

1. Open Keychain Access, which is in the Utilities folder within the Applications folder.2. From the Keychain Access menu, choose Preferences.3. Click Reset My Keychain, which is under the General pane.4. Authenticate with your account login password.5. Quit Keychain Access.6. Restart your computer.

To reset your keychain in Mac OS X 10.3 through 10.3.9:

1. Open Keychain Access, which is in the Utilities folder within the Applications folder.2. From the Window menu, choose Keychain First Aid.3. Click Options…4. Click Reset My Keychain, which is under the General pane.5. Authenticate with your account login password.6. Quit Keychain Access.7. Restart your computer.

Reference: http://docs.info.apple.com/article.html?artnum=305145