Custom Forget Password Function

I am trying to create a custom function to reset a WP password from a forgot your password form, for a custom login page.

I have a custom login working but i want to allow users that have forgotten their password to get it reset. Just like how the wp-login.php functionality works. But i dont want the user to use wp-login.php since it doesn’t look like the rest of my site.

I am aware of things like “Theme My Login” and other plugins that have this function, but dont want to use a plugin. I am looking for a simplified function. The plugins are very bloated with features and i just need this one.

I know that i can’t just grab the passwords from the wp db since they have an md5 encryption on them and send them to the user via wp_mail().

Solution that i am looking for: User enters a username or email address and then submits that form. Then that it submits the data to itself for processing. Then that page collects the data and then calls a function to set that user, create a new password with the wp_generate_password, update the password with the new password and email them with wp_mail the new password.

Any thoughts on how to achieve this?

Thanks