Reset lost root password in Ubuntu 14.04

If for any reason(s) you forgot your Ubuntu root password, then you have a chance to reset the password without causing any issues. This may be a concern to some of us why its been made possible to reset Ubuntu root password but if we are to think outside the box, this could only happen if your machine is not secured physically hence someone is able to do this. Lets not forget that the best form of securing your system is encrypting the hard drive, that way no one can steal my information.