Roger,
Go to you site and under
www.yoursite.com/forumdirectory/language/ open your language file. In my case it is english.php then search for the following entries:
_LOST_PASSWORD
_NO_ACCOUNT
_CREATE_ACCOUNT
To the right of each you will see the content displayed. CHange it to what you wnat. That should work. I can't varify that as I am using the CB login mod. Make sure you back up you files first.