Re: [truecrypt] This cannot be true, can it?
No, it's not true.
First off, you're talking about encryption, not simple password protection. If you find a Cheerios's box with a coded message on it, with a decryption card to align the letters, you can't just burn the decryption card and read the message.
This differs from a Windows password which is more likened to a lock and key. If you don't have the key, break the lock.
Truecrypt uses an algorithm to change the values of data and never really stores the password, meaning you can't 'erase' the password. It's not even there. Depending on the algorithm, Spotmau would have a seriously difficult time accessing contents. I believe that one encryption algorithm was almost blocked by the NSA as they are quoted as testifying to Congress that the amount of time in breaking it with even the most advanced systems would take "12 times the creation of the universe". This isn't used by Truecrypt, but you get where I'm going.
After looking at Spotmau, it does many things, but nothing that would break an encryption algorithm. I think whoever told you this was thinking of the Windows Password recovery feature, and applying that to TrueCrypt's whole disk encryption feature. Completely different things there and not even close to being true.
Humans are the only creatures that won't live up to the their potential. Give everything your all. When you die, die on E.
So I ask you, what do you intend to do now?