Don't think so. Don't have a great understanding of Parallels (or, in fact, of OSX, Windows, Unix....). I have only Windows 7 as VM. I can specify the boot order, so that it starts from CD, for example, but I believe the ophcrack CD boots a slim Linux program and then analyzes the Windows files to recover passwords and I am not sure Parallels would allow this.
MacBook Pro 15" (2.33 Intel Duo/3GB/667MHz/120GB/10.6.8),
MacBook 13" (2.1 Intel Duo/3GB/667MHz/120GB/10.6.8),
PowerBook G4 12" (1.5 PowerPC/768MB/70GB/10.4.11),
Various LaCie Firewire HDs, Airport Extreme, Express