Adding to John P's answer,
For a linux system, steps 1-6 can be accomplished with these commands:
mysqldump -u [username] -p[root_password] [database_name] > dumpfilename.sql
mysqladmin -u [username] -p[root_password] drop [database_name]
sudo /etc/init.d/mysqld stop
sudo rm /var/lib/mysql/ibdata1
sudo rm /var/lib/mysql/ib_logfile*
sudo /etc/init.d/mysqld start
mysqladmin -u [username] -p[root_password] create [database_name]
mysql -u [username] -p[root_password] [database_name] < dumpfilename.sql
Warning: these instructions will cause you to lose other databases if you have other databases on this mysql instance. Make sure that steps 1,2 and 6,7 are modified to cover all databases you wish to keep.