I gutted the misc.php source and created a UpdateForum.php module:
PHP Code:
if ($_REQUEST['do'] == 'updateforum')
{
build_forum_permissions($forum['757']);
vbflush();
unset($forum['757'], $vbulletin->forumcache);
}
Now my SQL query runs replacing the forum password:
PHP Code:
UPDATE forum SET PASSWORD = '<new pass>' WHERE forumid = 757;
Then I run /forums/admincp/UpdateForum.php?do=updateforum and the password is reset!