To use HP BCU to modify the BIOS settings and set/modify password,,
1. Download the BCU utility softpaq from HP CMS Download Library under the "Resource" from Manageability website
http://www8.hp.com/us/en/ads/clientmanagement/overview.html
2. Extract BCU softpaq (current is sp71412) to install its content to the folder as shown in the picture below

3. From a commandline windows, change the directory to BCU contents/file store
a. Get the repset file with this command line:
BiosConfigUtility.exe /get:repset.txt
The repset.txt is created in the same BCU file store
b. Open repset.txt and modify the setting you want to apply to the system and save it.
c. Apply the modified repset by running this command line:
BiosConfigUtility.exe /set:repset.txt
d. To set new password, run this command line
BiosConfigUtility.exe /nspwdfile:"password.bin"
Note:
you need to create an encrypted password bin file using HPQPswd utility. The HPQPswd utility can be downloaded from the Manageability website.
For more command line parameters and the BCU usage, please refer to the BCU user guide that can be downloaded from Manageability website (look for HP CMS Whitepapers link under the "Resources"
Thx