I got some really awesome armor.

I Chain Mail +6 (to be exact)

But I need to be neutral to wear it.

I also have Electric Shield +7 which also I need to change alignment.

How would I go about doing that?

In before boring people with hex editors.
You can get gear up to +64, so I wouldn't be too attached to that Chain Mail +6.
There are in-game ways to change alignment. Seek and you shall find; after all exploring is part of what the M&M games are all about.

In the castle dungeons, there are fountains that can change your characters' characteristics. This includes fountains that will change the alignment of those who drink it.

So, explore the castle dungeons and look for fountains.

Note that alignment isn't the only thing that can be changed by the fountains; sex can be changed (affecting whether you can hit enemies with gendered physical immunity), and some fountains even change your stats (raising one at the expense of another).

Lloyd's Beacon can be useful here, though it won't work in some dungeon levels. Actually, the cap is +63. Using Enchant Item on such an item will remove the bonus and may change the alignment restriction.

Note that +63 items that can only be used by Neutral characters are considered cursed by the game; the Uncurse Item spell will not remove such curses, because the curse mechanic and the spell were not correctly implemented.

It's also utterly unnecessary to get up to +63 bonuses to beat the game. I finished with one +20 item and then a bunch around +8-9. You're going to get enough gear drops that if you can't use a particular one you should be fine to just wait for another one you can use.

Thanks guys, very good advice :)

That's one thing I love about Might and Magic, the total awesome randomness of what goodies I find.

Also, actually getting a +63 bonus (which, again, can trigger a bug that makes the item count as cursed, so not recommended) with Enchant Item requires 3100 SP for the last cast. With 50-59 INT (highest you can reach easily), you get 11 SP per level, which gives you only 2805 SP at max level. (You would need to be level 282 to get that much SP, and the level cap is 255.) With 100 INT (most easily reached at a certain date range late in the year), you get 14/level, which allows you to reach that point at level 222. With 255 INT (reachable with stat trades in the dungeon or via what could be considered a glitch), you still need to be level 141. Reaching those levels will take a while, and I am pretty sure your levels don't need to be *nearly* that high to complete the game, not to mention that high levels cause other issues (like Protection from Elements/Magic overflowing).

I could add that you will need to rest to restore your SP after each cast when enchanting items to high bonuses. You can't just use fountains, as they only set your SP to 200, which is only enough to get the item to +5.

(Of course, this is ignoring the fact that each cast costs 50 gems, but that's paltry in comparison.)