Help! Bought a used iMac (2008) and I'm trying to install quicktime but its asking me for a password and has Apple in the "Name" spot.  How do I retrieve or reset the password?

Can anyone help...
I just bought a used iMac (2008) from an ebay seller and I'm trying to install quicktime but its asking me for a password and has Apple in the "Name" spot. 
How do I retrieve or reset the password?
It came with the upgrade of Mountain Lion but I cannot find quicktime in the applications.  When I try to install anything this Installer Password thing comes up... so I'm stuck.

ShirlFromNC
I think you're slightly misunderstanding something, so maybe I'll try to chime in, even though everyone has said it in various ways.
Before OSX 10.7 (aka Lion) came out, the upgrades to OSX belonged to the Mac and not the user. Probably there was a technical legality in the user agreement that you couldn't do that, but everyone did. I could sell a Mac with Snow Leopard (or anything before that) by just erasing the hard drive, and reinstalling OSX. Then ship it to the buyer. Now, I was pretty honest as a seller, and including not only the original installation discs but also any upgrade. I would only sell a Mac if I was replacing it, so I always was getting the brand new version.
With OSX 10.7, upgrading was done online, with no disks. So the upgrades were tied to an Apple ID rather than the machine. Recently, I sold a MacBook Pro (to upgrade to a 27" iMac), which came with Lion. I had promised the buyer that it would come with Mountain Lion, but I didn't know that the upgrade was tied to my Apple ID. I made good with the buyer by sending along a $20 Apple App Store card so that she could upgrade to Lion.
So what everyone is saying here is that you need the original Installation discs or Snow Leopard disk to reinstall and wipe out the Mountain Lion that is on your Mac. It doesn't belong to you, it belongs to the seller, and without his Apple ID and password, you cannot use it. Once you do a reinstall of Snow Leopard, then you can upgrade to Lion and then to Mountain Lion. I do not believe you can upgrade directly to Mountain Lion from Snow Leopard, but I'm not sure.
If the seller claimed that you were getting Mountain Lion, then he was lying to you (or being more civil, maybe he just didn't know like I did). If you bought the used machine from Amazon Sellers or from eBay, then you have recourse through the feedback system or through PayPal. If you bought it any other way, you're on your own.

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