You can now reset an agent/contact's password in the following ways:

• Reset Password Link: This option will send a one-time reset link that can be used by the agent/contact to reset their password. The reset link will be valid for 48 hours.
• Set Password Manually: You can set the password manually for an agent/contact account. This will send a notification to the corresponding user about the password reset.
  The updated password will, however, not be sent via email and has to be communicated externally.
• Manual One Time Password: With this option, the manual password that's been set can only be used once. Once the user logs in to the application, he will be prompted to change the password.
  The manual one-time password will also not be sent via email and has to be communicated externally.

Please refer to these articles for more details.
Agent Password Reset
Contact Password Reset