Connecting SQL Anywhere with Sybase database file on local computer
Here is a way to reset the password using the free SQL Anywhere 17 Developer edition. The paid edition should work also.
&quot;C:\Program Files\SQL Anywhere 17\bin64\dbsrv17.exe&quot;  dbsrv17 -orp &quot;UID=DBA;NEWPWD=newpassword;AUTHUID=reset_user;AUTHPWD=sql456&quot; C:\database.file.db