Have you forgotten your Mac OS X 'ROOT' password and need to reset it? Follow these 4 simple steps:

1. Stop the mysqld server. Typically this can be done by from 'System Prefrences' > MySQL > 'Stop MySQL Server'

2. Start the server in safe mode with privilege bypass
   From a terminal:
   sudo /usr/local/mysql/bin/mysqld_safe --skip-grant-tables

3. In a new terminal window:
   sudo /usr/local/mysql/bin/mysql -u root
   UPDATE mysql.user SET Password=PASSWORD('NewPassword') WHERE user='root'
   FLUSH PRIVILEGES
   \q

4. Stop the mysqld server again and restart it in normal mode.