Just in case if anyone still using the veeery old and legacy Elastix box (2.4.0) and forgot its web GUI console password, here’s the trick to get this sorted.
/usr/bin/sqlite3 /var/www/db/acl.db "UPDATE acl_user SET md5_password = '`echo -n newpassword|md5sum|cut -d ' ' -f 1`' WHERE name = 'admin'"
Voila!