First, uninstall PT3. Then you should drop the database in PostgreSQL. Click Start --> Programs --> PostgreSQL --> PGADMIN III and the command you want to issue is:
Code:
DROP DATABASE YourDBName
Please note that once you do this you cannot recover your data. So make sure any hands you want to have saved from your old database are saved.
Then just reinstall PT3 WITHOUT PostgreSQL (you already have PostgreSQL installed and functioning, no need to uninstall it and set it up again), and set it up and you'll be good to go.