Click here to know about the Portal setup in Dynamics CRM Online.
Follow the below steps to update the password of a portal user in CRM.
Step 1: Login Dynamics CRM with System Administrator role.
Step 2: Navigate to Contacts and open the required Contact record for which you would like change the password for a portal user.
Step 3: Click on the CHANGE PASSWORD button on the ribbon.
Step 4: Change Password dialog will be opened.
Enter the New Password and click on Next.
Step 5: The password has been changed successfully message will be displayed, if it is successful. Click on Next.
Step 6: Click on Finish.
Step 7: Login Dynamics portal with the new password.
Hope you have successfully logged in Dynamics CRM Portal with the new password.