How to Reset a MySQL Password:

1. Stop the mysqld daemon process,

[root@host ~]# /etc/init.d/mysqld stop
Stopping MySQL:               [  OK  ]

2. Start the mysqld daemon process with the –skip-grant-tables option,

[root@host ~]# /etc/init.d/mysqld start --skip-grant-tables
Starting MySQL:                               [  OK  ]

3. Start the mysql client with the -u root option,

[root@host ~]# mysql -u root -p
Enter password:

<— enter current root password

4. Change password to no password at all.  Execute the UPDATE mysql.user SET Password=PASSWORD(‘password’) WHERE User=’root’;

mysql> UPDATE mysql.user SET Password=PASSWORD('') WHERE User='root';

5. Execute the FLUSH PRIVILEGES;  command.

mysql> FLUSH PRIVILEGES;

Found somewhere on the internet and helps me a lot.