I am using jBCrypt for hashing the password and storing it in database. As it is one way algorithm we cannot get the password (original plain password string).
When the user forgets the password I guess we cannot provide the password instead we can only ask the user to set the new password. Is my opinion Correct?
Is there any way to retrieve the plain text password back when hashed with jBCrypt (from the hashed one? :-) .. I don't think so ... )
No, there isn't. That's the whole point of using a hash function.
There is a method - brute force cracking till you have a match. But that not an option.
Anyway - I wouldn't trust any service that will be able to tell me "hej dantuch, seems you forgot you password, so it was YOUR_SECRET_PASSWORD"... It'd mean it was stored as plain text or something like that.