Hey Gaster_E17,
Thanks for using Apple Support Communities. I see that you forgot the password to your encrypted backup, and I’d like to provide you with more information about this.
To answer your question, it’s possible that you can reset the password but you won’t be able to use the previous encrypted backups. Basically, you’ll be creating a new password in order to create a new backup for your current data.
To be clear, you can’t restore an encrypted backup without knowing the password. You can read more about the encrypted backups by checking out the resource here: About encrypted backups on your iPhone, iPad, or iPod touch
There should be different sections that you can click on the page that will bring you straight to the category that you wish to read more about.
Cheers!