Official comment
You can use the default WordPress "forgot password" function on your login page. Most of our clients use the [login_page] short code on their customized login page for their membership site. The code below shows how to display the default WordPress "Forgot your password?" link that can be placed under the shortcode.
<a href="/wp-login.php?action=lostpassword">Forgot your password?</a></p>
Remember to change to the "Text" tab at the upper right of the editor window to insert the HTML code.
