Yes, the account is the admin account. You could change the username through the db, and then change the password through the worldserver console, or just delete it then create a new one. To create a new one, here is an example of what to type into the worldserver console:
Code:
.account create $Accountname $Password
Change $AccountName with your account name and $Password with your password, and the account will be created.
Then, to make that account a GM:
Code:
.account set gmlevel $AccountName 3 -1
Change the $AccountName with the name of your account, then the account will have the highest GM permissions. You can change the '3' to '4' I think, but I'm pretty sure that's only for the console itself, not for accounts, so it's best to keep it at 3.
For any more questions, look here and hopefully it's already answered, if not, feel free to ask:
http://www.emucoach.com/showthread.php?1876-A-General-Help-Guide
EDIT: Sorry [MENTION=872]LKarthas[/MENTION], didn't see you replied it first.