Yet another reason to steer clear of cloud anything. I'm just waiting for some leak where all the personal documents, pictures, financials, &c stored on cloud servers (such as Google Docs, iCloud or Dropbox) are compromised. Perhaps by some hacker getting a back door, perusing and downloading sensitive info from millions of users for weeks on end.
Given that they can reset the password the info must be inherently insecure. If everything was encrypted by password then a reset would be impossible.