Magento 2 Forgot Password Page Incorrect Captcha – Fix

You can solved by Debug the captcha check process.

So ,please follow the below process.

Magento customer registration form's captcha has been check at class Mage_Captcha_Model_Observer on function checkUserCreate() using controller_action_predispatch_customer_account_createpost event.

There magento is check captcha value at using :

$captchaModel->isCorrect($this->_getCaptchaString(Mage::app()->getRequest(), $formId))

That means here magento send the value of field of captcha[user_create] and the field is match on Mage_Captcha_Model_Zend at function isCorrent()

This field match with session value.

Mage::getSingleton('customer/session')->getData($this->_getFormIdKey('word')

value

By using this you can track where the issue

I had the same, but a second error message appeared which said that a required field is not filled out. In general: when anything goes wrong when saving the customer, the said error message "Your password reset link has expired" shows up. So, pay attention to any additional error messages showing up or in your log files.

If you want to find out what's happening in detail, go to the file "app/code/core/Mage/Customer/controllers/AccountController.php" and modify the method resetPasswordPostAction temporarily. Inside the } catch (Exception $exception) { directive, add Mage::logException($exception);. After you have seen the error again, you can find the real error message in the file var/log/exception.log.