In the event of a forgotten Edge MC Password, or other need to restore to factory settings, reset the Edge MC as follows.
This will reset the Edge MC to its default configuration by purging:
Network Configurations
Edge MC Access Credentials
Tulip Account Authentication
Driver Configurations
Please note: The Edge MC's IP address may also change after a factory reset.
This is the only way to reset your Edge MC's password:

Verify the Edge MC is not actively controlling any devices
Hold down RST button for 10 seconds, green LEDs should flash Note: Please be careful when clicking the RST button
Release button when blinking red LED (L3) turns off
When red LED turns back on (around 60 seconds), Edge MC is reset.
Set up the Edge MC