Our friends at Google Analytics recently raised the number of accounts your can create, per Google login, from 25 to 100. This should be welcome news for agencies and anyone else who needs to implement Google Analytics for a multitude of websites.
If you still have to go beyond this limit, you can always ask a third party (such as the owner of the website that you need to track) to create the Google Analytics account under his/her login and then just provide you with full administrative access. If you’re granted all four access levels (Manage Users, Edit, Collaborate, and Read & Analyze), you’ll have identical privileges to the account creator.
You can also create another Google login, which would allow you set up an additional 100 Google Analytics accounts, but it’s not considered best practice to fragment your Google Analytics accounts among multiple logins.
Also, we should remember that you don’t need to set up a completely separate account to track a new website; in many cases, just setting up a new property is fully appropriate. The theoretical limit for properties is 50 per Google Analytics account, since the limit for views is 50, and each property has at least one view. In practice, however, you won’t accommodate 50 properties/websites in a single Google Analytics account, since you’ll want to maintain several views (still referred to as profiles in the linked post) for each property.