Open your terminal ..

~$  sudo su postgres 
~$  psql

postgres=#  \c Your_Database_Name
You are now connected to database "Your_database_Name" as user "postgres"

YOurDatabase_Name=# update res_users set password='test' where login='admin';
UPDATE 1

 Thanks !!

iWesabe

Odoo system has three different passwords:

1) Paremeter admin_passwd in openerp-server.conf

This password allows you to manage databases, when you browse address

localhost: 8069 / web / database / manager

In this case, to set new: Remove the semicolon at the line start, set your password and restart odoo.

2) Paremeter db_password in openerp-server.conf

This is the password of role with name odoo in postgresql (parameter db_user = odoo in openerp-server.conf)

In this case, to set new, see https://www.postgresql.org/docs/9.0/static/sql-alterrole.html

In your case this password probably is empty (db_password = False)

3) Main Odoo user password, user with login = admin (or with your email).

In this case, to set new, replace the password and hash in the database with the new one by running this SQL query:

UPDATE res_users SET password = "NEW_PASSWORD",password_crypt = NULL WHERE id=1;

To retrieve login:

SELECT login, password FROM res_users WHERE id=1;

IMPORTANT!!! After update res_users (after setting NEW_PASSWORD) you login to Odoo and set new password again (If you need crypted password in database)

Your admin password is commented out. Remove the semicolon at the line start and restart odoo.

video reference here