Key management on device for perimeters

There is provided a method and apparatus for resetting a password for a device or managing the device, the device having an encryption perimeter. A device shares a public/private key pair with a server, the public key being on the device and the private key being on the server. An intermediate value is encrypted on the mobile device using the public key. If the password is lost or the device needs to be managed, the server can request the encrypted intermediate value, decrypt it, and send the decrypted value to the mobile device which may then resume operations. A new password may be provided by the server or the user may set a new password once the encryption key is recreated from the decrypted intermediate value.