There's a nasty bug in Wordpress 2.5.1 which means that the password recovery doesn't always work - instead, clicking on "Forgot password" results in the page reloading, and the error message " Sorry, that key does not appear to be valid".
To correct this, fire up phpmyadmin in Cpanel, click on the database name, and in the row "wp_users" click on the first icon for "browse".
On the next screen, click on the pencil icon for editing the table, then do the following:
User pass > Function > MD5 and type in your new password as in the image below.
Click the "go" button and all should be fine.