Q: I have forgotten my keychain password was wondering how to reset the password for it

http://support.apple.com/kb/TS1544

If you don't know the keychain password, the only way to reset it is to delete the old keychain and create a new one. See the instructions in Keychain Access Help. (Keychain Access is in the Applications > Utilities folder.) The keychain is encrypted, and the contents cannot be recovered without the original password.