Ive installed Joomla on my localhost a few months before but Ive forgoten about it and since I didnt pay too much attention to it (Im a wordpress CMS fan).. I realize there is no way to recover your password unless you know phpadmin and mysql (geek!)..
So I brushed my wanderlust aside and wore my hat of geekery. Time to make moolah!
How to login if you forgot password:
1. login to phpadmin
2. look for users table, mine was zgat8_users
3. look for your username and edit the row with the password field with this value:
4. The value is a hashtag value which means “secret”
5. Save/Commit/Go whatever you call it
6. Go back to your homepage, login with your username and new password “secret”
7. Change password as needed
More info on: http://docs.joomla.org/How_do_you_recover_your_admin_password%3F