Is there any way to completely reset my touchpad back to the way it was out of the box?
Navigating to device info and reset options you will find all the reset options available for the device.
Alternatively you can flash the device with the webOS doctor which redoes everything on the device, however it doesn't touch the USB partition.
Ex HP webOS Tech Support
5Ts: Five ways to get your webOS tablet working again: http://www.hpwebos.com/5Ts
6Ts: Six ways to get your webOS phone working again: http://www.hpwebos.com/6Ts
Did you figure out how to reset/wipe the deivce?
***never mind, I found "secure full erase"