Forgetting a password is not that uncommon, whether it be for logging into an account or for your Wi-Fi hotspot. When you forget the login credentials of any account, you are given a way to recover it from the service provider, and you can change it using valid and reliable authentication methods. Something similar happens when you forget the password of your Wi-Fi hotspot.
If you have forgotten the password for your Wi-Fi hotspot on your iPhone, follow the steps given below:
Open the Settings mobile application on your iPhone.
Press Personal Hotspot.
In the settings page for your Personal Hotspot, look for the option that reads Wi-Fi Password.
Go to Settings > Personal Hotspot > tap on Wi-Fi Password.
In the Password field, remove the existing password and type in a new one. Press Done to save your changes.
To rename the Hotspot network on your iPhone, you will need to change the name of the iPhone itself. To do this, go to Settings > About > Name, and then change the name of your device.