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RE: If I lose my steemit password, will I be able to recover it?
incorrect, in your friend's case the account was either hacked or his/her account provider actually kept a copy of his password. (which takes away all security measures put in place in the steem blockchain).
OP was asking about "losing their password". Unless there is a 3rd part that stores his/her password. There is no way to recover lost password from the blockchain.