Self Service Password Reset in Microsoft 365 help users to reset their passwords by using alternative identity verification methods such as office/mobile phone, alternate email address and security questions.
This blog post shows how to configure the feature in your Microsoft 365 subscription.
From the Microsoft 365 admin center, choose Settings, and then choose Security & privacy.
Under Let people reset their own passwords, choose Azure AD admin center.
Choose Self-service password reset,
Select Configure to turn on the Self-Service Password Reset.
On Self-Service Password Reset Information page, enter name and Select User or Group.