Yes, you can use the below code snippet for resetting the admin password

var user = ApplicationContext.Services.UserService.GetUserById(userId);
if (user != null)
   {
    user.Username = userName;
    user.IsApproved = true;
    user.IsLockedOut = false;                   
    ApplicationContext.Services.UserService.Save(user);                
   //Change password
   ApplicationContext.Services.UserService.SavePassword(user,userPassword);
   }

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