Hi Navin,
You can't reset the password for any applications like BI launchpad, CMC, UMT, IDT, etc however the passwords can be reset for users like Administrator and the other users in the BO server environment.
Please let us know which user password needs to be reset because if it's a non-admin user then we can directly change it from CMC itself but if the password needs to be changed for BO server Administrator itself then we need to delete some rows from the system DB of BO server.
Please update so that we can immediately look into it further.
Thanks,
Arun