- Log in, in any of the sites you have access to, with the old password.
- In the dashboard, go to Users > Profile.
- Scroll down to the bottom.
- Next to the text “New password”, click the button “Generate password”.
- If you don’t like the generated password — you won’t, probably, but you should, it’s a good password! — you can type in your own.
- WordPress will show you the “goodness” of your typing, as you type — as long as WP thinks your new password is weak, you’ll also see a checkbox under the password field, where you can confirm that you really want to use a weak password.
Please keep going until WP says it’s a strong password! - When you are happy and WP is happy, click the “Update profile” button at the very bottom of the Profile page.
The same username and password is used for all your logins to the WordPress sites — so if you have access to more than one site, you’ve now changed password for all of them.
Some advice on how to choose a good password (and yes, WP thinks that both of those are good passwords …):

(CC BY-NC 2.5) Randall Munroe, xkcd.com