How can my customers reset their password?

Your site users can reset their passwords by: 
1) Clicking on the "Reset Password" link on the login page. 
2) Logging into (B2B site), or go to the storefront (B2C site) and selecting the "My Profile" option (make sure when you are setting up your site navigation that you add this option). Based on the skin you are using this could be under "My Account" link.