Enter the "Level" selection on the options screen and select "Spidey". Hold Start on controller two, then hold A + B + C on controller one and press Up/Right. The following cheat features may now be activated.

Web refill
Pause game play and press A.
Full life
Pause game play and press B.
Temporary invincibility
Pause game play and press C.

Level Password
1 Arbogast
2 Electro
3 Half 2 Life
4 Stables
5 Permanent
6 Public 45
7 Kidney 2
8 Pencil

Comic book Location
1 Starret Leight Building
2 Harlem Meer
3 West 70th
4 St. Patrick's Cathedral
5 Bus Terminal
6 Civic Center
7 Clarkson St.
8 East Harlem
9 Central Park Zoo
10 Court Street
11 Empire State Building
12 West Street
13 Bleeker Street
14 South of Power Station
15 First Avenue
16 Houston Street
17 Julliard School of Music
18 Washington Street
19 Central Park North
20 Henry Street
21 Riverside Drive