Hello,
First, make sure sendmail is active on your server. You can do this by creating a phpinfo.php page with the following contents:
<?php
// Show all information, defaults to INFO_ALL
phpinfo();
// Show just the module information.
// phpinfo(8) yields identical results.
phpinfo(INFO_MODULES);
?>
After you have done that, browse to the page in a browser. Search for ‘sendmail’ and you should see something like
sendmail_path /usr/sbin/sendmail -t -i /usr/sbin/sendmail -t -i
If not, you’ll want to contact your host and get them to set up sendmail for your server. Otherwise, the lost password email won’t send out.
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I recommend using LastPass for Firefox for password management.
I use the same password for everything that does not require maximum security such as forums, blogs, localhost etc. I recommend to everyone to make life easier on yourself this way.