CentOS/Fedora forgotten password

What to do if you forgot the password for your CentOS/Fedora/Redhat machine?? Here are some simple steps to change back the password by entering into single user mode of your machine provided you do not forgotten your grub password if you have set it ;)

1. Reboot your machine
2. Press 'Esc' key once grub starts loading
3. Select your kernel press 'e' on one of the kernel to edit the kernel parameter
4. Press 'e' on the line that starts with 'kernel /vmlinuz...'
5. Append ''single" or "1" at the end of the line
6. Press 'Enter'
7. Press 'b' to boot from the appended kernel
8. You are now in the single user mode of your linux machine once you get to the shell. You can now change the password of your account using command passwd
9. Reboot back your machine normally
10. You can now log in to your machine using your new password