1. Connect a serial cable to one controller 1 and verify it was prompting for login prompt.
2. Power off both Power supplies
3. Power on one (or both Power supplies)
4. When Controller 1 says "Press Control C" to stop boot process (Or something like that.) then Press Control-C. This will take you to the "Loader-A" menu. (This is needed because you have to pause the bootup of this controller. Otherwise when you chose option 3 on Controller2, Controller 1 will be finished booting and controller 2 will hang at "Waiting for Giveback")
5. Now move your serial cable to the other Controller. (You have to do this quickly)
6. Wait until this controller says Press Control-C for Boot menu. -> then press Control-C
7. Then chose option 3 for "reset Password"
8. It will then think for a while and then give you an option to reset the password.
9. Then it wil finish booting this controller and prompt for login. Login with your new password.