Steps to change root password in MySQL

--Only one command will change the ROOT Password in MySQL
Syntax:
mysqladmin -u root -p<old-password> password <new-password>

Example of Changing root password:

C:\Program Files\MySQL\MySQL Server 8.0\bin>mysqladmin -u root -pPassword1 password Newpassword1
mysqladmin: [Warning] Using a password on the command line interface can be insecure.
Warning: Since password will be sent to server in plain text, use ssl connection to ensure password safety.

C:\Program Files\MySQL\MySQL Server 8.0\bin>mysql -u root -p
Enter password: ************   --<NEW PASSWORD>
Welcome to the MySQL monitor.  Commands end with ; or \g.
Your MySQL connection id is 29
Server version: 8.0.24 MySQL Community Server - GPL

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Type 'help;' or '\h' for help. Type '\c' to clear the current input statement.

mysql> show databases;
+--------------------+
| Database           |
+--------------------+
| database           |
| information_schema |
| mysql              |
| performance_schema |
| sakila             |
| sys                |
| test_bkp           |
| world              |
+--------------------+
8 rows in set (0.01 sec)