Yep. Hold down CTRL-ALT and press DEL twice. That will bring up a classic Windows 2000 style logon window. Just change the username to administrator and enter the password that you set at installation.
Windows XP's CTRL-ALT-DEL works like that of Windows NT/2000. CTRL-ALT-DEL in Windows XP DOES NOT serve the same function as CTRL-ALT-DEL in 95/98. It serves many specilized funcitons, such as bringing up classic logon, opening the Task Manager program, or in Windows Classic mode bringing up the "Windows Security" Dialog. XP is deigned to be stable enough where a hard restart, like CTRL-ALT-DEL in 95/98 is not needed.