Im trying to reinstall OSx and when I push the Option key down whilst turning the power on I get this large Padlock icon and what looks like a space for a password. Is there anyway to bypass this this?
You can remove that by removing the screw under the iMac's chin and removing one of the memory sticks. Once the memory stick is removed, start the iMac, wait for the startup noise, then turn it off again. Put the memory stick back in and put the memory cover back on. That will remove the password.