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 have backed up your encrypted wallet, you can delete the wallet and then restore the wallet from your 12 word recovery phrase.
If you set a new encrypted password, please be sure that you update the BitPay app to the latest version.
Please view our security update on a vulnerability for spending passwords prior to version 3.14 of the BitPay and Copay wallets.