Setting MySql root password after installation

Generally if the password for MySql is not set during the installation, then these commands will help you set it externally.
It is also useful when it shows error -
"ERROR 1045 (28000): Access denied for user 'root'@'localhost' (using password: NO"

/etc/init.d/mysqld stop
mysqld_safe --skip-grant-tables &
mysql -u root
mysql> use mysql;
mysql> update user set password=PASSWORD("newrootpassword") where User='root';
mysql> flush privileges;
mysql> quit
/etc/init.d/mysqld stop
/etc/init.d/mysqld start