|I assume the password is one for the laptop itself - a system access, bios access, or hard drive password .|
It's easy to remove a Win 95 user password.
Laptops / notebooks made in the last ten years or so are very well protected. You can't remove a system access, bios access, or hard drive password by clearing the cmos, because the password info is not in the cmos, it's on another chip that cannot have it's user info erased from it by removing the power to it.
If you found and unplugged the cmos battery, that does the same thing as if you had removed a clear cmos jumper, or you had shorted two specific contacts on the board to clear it.
However, when I search using your Thinkpad 365X or 365XD model, I find it could have been made as long ago as 1997.
Download this manual - it covers the 365X and 365XD:
It MAY tell you how to clear the password(s).