Reset MySQL root password using ALTER USER statement after install on Mac

If this is NOT your first time setting up the password, try this method:

mysql> UPDATE mysql.user SET Password=PASSWORD('your_new_password')
           WHERE User='root'; 

And if you get the following error, there is a high chance that you have never set your password before:

ERROR 1820 (HY000): You must reset your password using ALTER USER statement before executing this statement. 

To set up your password for the first time:

mysql> SET PASSWORD = PASSWORD('your_new_password');
Query OK, 0 rows affected, 1 warning (0.01 sec)

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Reference: https://dev.mysql.com/doc/refman/5.6/en/alter-user.html