I had this issue today, I was unable to login to my wordpress site. I first thought that “in some way” the password was changed (like that time that I ask “lastpass” to generate new passwords) but still with the new password I was unable to log in.
I made the change in database directly, then used wp_set_password (‘password’, $ID) in wp-themes/theme/functions.php with no luck :-(.
The problem was pretty… baffling, there was a plugin conflict that prevent me to log in to the admin area.