How to Change Magento Base Cart Domain Name?

For example, the old domain name is: http://www.glassespeople.com, and this shopping cart is based on magento. Now I need to remove the cart to my local computer, say under http://127.0.0.1/cart/glassespeople/. How to then?

1. Creat glassespeople, under http://127.0.0.1/cart/;
2. Copy all files under http://www.glassespeople.com, and paste them under http://127.0.0.1/cart/glassespeople;
3. Login phpmyadmin of www.glassespeople.com, and export the database of www.glassespeople.com;
4. Login phpmyadmin of http://127.0.0.1/cart/glassespeople, and import the database;
5. Edit old URL values in database —>Table: core_config_data
web/unsecure/base_url
change its old value http://www.glasespeople.com to http://127.0.0.1/cart/glassespeople
web/secure/base_url
change its old value http://www.glasespeople.com to http://127.0.0.1/cart/glassespeople

6. Modify the old mysql connection data to the new one:
Edit app/etc/local.xml under Magento root, and change related data

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7. Edit ajexconnection.php under Magento root, and change related data.

8. Login admin panel, and go to systemn –> Cache Storage Management, refesh old cache.
If you do not remember admin passwords, the go to phpmyadmin, and edit table admin_user, just replace the old enscripted password to 0192023a7bbd73250516f069df18b500, then the new password would be admin123.

You also can run sql command to generate a new password:

UPDATE `admin_user` SET `password` = MD5(‘PASSWORD’) WHERE `username` = ‘USERNAME’;

For example, if your username was admin and your wanted to reset the password to abcdefg111, I would do this:
UPDATE `admin_user` SET `password` = MD5(‘abcdefg111’) WHERE `username` = ‘admin’;