Forgot iphone 4 itunes backup password running 5.1.1 jailbroken?

I have a passcode on my iphone 4 running 5.1.1, that password I know and have no problems unlocking the phone. The iphone is also jailbroken if that helps. I can't for the life of my figure out my itunes backup password. I know my apple ID and password.

So my problem is that my phone keeps backing up to itunes fine but I want to restore my backup to a new iphone 5, please help.

Yes, even you don't have the iTunes backup password, you can keep backing up your iPhone with iTunes, because we don't need a passcode to make backup. But when it comes to restoring your iPhone from backup, it is not the case. You need to enter the password to unlock the backup to restore. If you don't have the right password, iTunes will not allow you to restore iPhone from backup. So to find the password is the key to restore iPhone from encrytped backup.

If you forgot the password, try iPhone backup password recovery to recover the password. It is available online. Search it on google if needed.