Using this plugin breaks the default WordPress password reset email. It mistakes <PASSWORD RESET URL> as a HTML tag and strips it. It then makes a new HTML message without the link.
This snippit will fix it, to anyone who's interested:
113 function password_reset_remove_chevrons($msg) {
114 $msg = str_replace( '<', '', $msg );
115 $msg = str_replace( '>', '', $msg );
116
117 return $msg;
118 }
119 add_filter( 'retrieve_password_message', 'password_reset_remove_chevrons' );