This makes your Mac forget that it wants you to reset your password. So if you do not want to reset your password, but do want to exit the endless password reset loop, it turns out that clearing your PRAM and NVRAM will do the trick. It was way too easy to get stuck in this loop. If you hold the option key, you will be able to select which drive to boot, but when you do, you will be back at square one. In fact, Command-R, which should bring you to the recovery wizard (which is not the password reset wizard) will be completely ignored. If you restart your Mac, you will end up right back in the wizard. The “Reset Password” boot wizard offers no exit without reseting your password. However, once you do this, there is no way out.
OS X Yosemite has a nifty troublesome password reset screen you can access by turning your computer off and back on from the login screen.
