Since your encrypted password is not managed by BitPay, there is no way to reset it. It is created and stored on your device only.
If you need to regain access to your wallet because you have forgotten or lost the encrypt password, you must restore the wallet using the 12 word recovery phrase. If you do not have the recovery phrase, you will not be able to regain access to the wallet.
If you have backed up your encrypted wallet, you can delete the wallet and then restore the wallet from your 12 word recovery phrase. Do not delete your wallet if you do not have your 12 word recovery phrase, as you will not be able to recover the deleted wallet without the 12 word recovery phrase.
To delete the wallet:
- Open the app and select the wallet to delete
- Click the top right icon
- Click Delete Wallet (last option in the bottom)
- Click Delete and OK.
After the wallet is successfully deleted, you can proceed to restore the wallet from your 12 word recovery phrase.
If you set a new encrypted password, please be sure that your BitPay app is up to date. Please see How to install the BitPay wallet.
Please view our security update on a vulnerability for spending passwords for versions previous to 3.14 of the BitPay and Copay wallets