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Follow the steps below.

Start the MySQL server instance or daemon with the --skip-grant-tables option (security setting).
```
$ mysqld --skip-grant-tables
```

Execute these statements.

$ mysql -u root mysql
$mysql> UPDATE user SET Password=PASSWORD('my_password') where USER='root';
$mysql> FLUSH PRIVILEGES;

If you face the unknown field Password error above use:

update user set authentication_string=password('my_password') where user='root';

Finally, restart the instance/daemon without the --skip-grant-tables option.
```
$ /etc/init.d/mysql restart
```

You should now be able to connect with your new password.

$ mysql -u root -p

Enter password: my_password

mysql how to fix Access denied for user 'root'@'localhost'