Thanks for the answer.
I'm afraid the motivation of the students is the biggest problem in making the regular mechanism for forgotten passwords to work. The system is mainly used for tests, so there are students that will try to "cheat" by pretending they have lost access to the e-mail in their profile and to the password itself.
I personally warned my students, that lost password in such manner will result automatic Fs, but some of my colleagues didn't agree to such approach. Several weeks ago there was one such student and my colleague made the mistake to tell him that he will re-do the test next week. Now the same colleague complains of 8 cases just in his course...