it's not a password reset problem, the issue is that your site is filtering/blocking certain urls. I registered on the site and tested and can see the password reset link get's a 404, but upon testing i can see the following also fail:

http://www.hypack.com/new/default.aspx?ctl=Login
http://www.hypack.com/new/default.aspx?ctl=privacy
http://www.hypack.com/new/default.aspx?ctl=terms

In each case the key is the "ctl=" is being blocked.I would suspect that someone has tried to block spam registrations (e.g. via something such as www.dnnsoftware.com/wiki/page/replacing-registration-page-with-custom-and-blocking-the-default-register-page ), but messed up and has blocked all ctl paths. Fixing this filter will fix the problem

Alternatively, you could edit the resx and provide the reset link in the form of a path that doesnt use ctl= e.g

http://www.hypack.com/new/Home/tabid/36/ctl/PasswordReset/Default.aspx?resetToken=e25b647f-9c4a-4285-ac7a-14ee006f13be