Reset Forgotten MySQL Root Password

First things first. Log in as root and stop the mysql daemon. Now lets start up the mysql daemon and skip the grant tables which store the passwords.

 mysqld_safe --skip-grant-tables

 mysql --user=root mysql

update user set Password=PASSWORD('new-password') where user='root';
flush privileges;
exit;

Now kill your running mysqld, then restart it normally. You should be good to go. Try not to forget your password again.