Application for resetting Old password not having to wait for an extended period of Time ?

The reason for the guidelines set out by Microsoft about this are about account security and ensuring against identity theft. Unfortunately the guidelines must therefore be adhered to

There is no way to get it back. It used to only reset if you were not a member for an extended period of time

You didn't recently perform a password reset on the old account, did you? There are a number of things that trip the 30-day waiting period. Resetting password, downloading profile, changing Microsoft Account email, etc. All things potential account thieves
might do to lock an owner out of an account. The system, erring on the side of caution, withdraws into its shell for 30 days before popping its head back out. And if you make changes during those 30 days, it resets the 30 days waiting period again.

I did if I left it on the instant on setting for an extended period of time. Give it a hard reset and it should solve it.

Computers and technological products are complex creations. Sometimes systems that are powered on for extended periods of time exhibit data degradation in memory resulting on corruption and these unexpected anomalies generate odd experiences in applications
and operating systems. Things like programs locking up or crashing, portions of an application becoming unresponsive or unusable, or even completely hang the system. Doing an actual reboot that completely shuts everything down (safely) and starts things back
up from a fresh, clean state, so applications can be reloaded into memory without the corrupted bits and things seem to work fine again. It's simply a byproduct of us becoming more accustomed to having our devices on for extended periods of time.