That link is not a bios update-its full dump of bios. You need a bios programmer to write that file on your bios chip. remember to remove cmos battery before writing bios.
Btw, yes it will remove the pass word as long as the password is stored in main bios. If password goes in kbc, then it will not go away even after flashing bios. You need to flash kbc with a kbc programmer like svod.
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