In order to change your Magento admin password please open *phpMyAdmin*, select Magento's database, open the *query window* and paste this query:

*UPDATE admin_user SET password=CONCAT(MD5('sGnewpass'), ':sG') WHERE username='AdminUsername';*

Note: You have to change *newpass* in the *MD5('sGnewpass')* to the password you would like to have, and change *AdminUsername* to your admin username.

Execute the query and your password will be set.