If you cannot log in because you lost the password, you cannot reset the device via hardware means. However, Netgear provides a specific workaround utility for this scenario.
: Open XMEye, tap the Scanner icon in the top left corner, and scan the DVR's QR code. 7004tlmv3 password reset
For the (often part of H.264 DVR systems), you can generally reset the password using hardware jumpers or a software-based QR code method. Method 1: Hardware Jumper Reset Feature: Password Reset for 7004TLMV3 Device / Account