When a customer presses on "Forgot your password?" link, Event #61 "Password reminder requested" is launched, with its default action "Person notification". The notification itself is editable like all other notifications of other events:
Top > Configuration Director > Event Manager > Events > Password reminder requested > Actions > Person notification
Hello, @@person.name@.<br> You've ordered a password reset from @@provider.server_name@<br> The authorization code to change your password is<br> "@@person.auth_code@" (without quotes). <p> To set a new password, visit this URL: <p> @@person.pwd_reset_url@ <p> If you follow the URL, your email and authorization code<br> will be entered automatically for you.