Accidentally deleted Wordpress blog!

Greetings,

I can't believe I made a rookie mistake like this but I accidentally deleted my Wordpress blog when doing an overhaul on my site. I created a whole new web design for my site and decided to delete the entire site and upload the new one so that I wouldn't have all these stray web files hanging about that I didn't need anymore. In the process I completely forgot about backing up my blog directory which I should have left intact. Now I'm trying to restore my Wordpress blog manually by uploading a fresh copy of Wordpress and then editing the wp-config.php file (which I've done many times before). The problem is I no longer have the DB_PASSWORD which I use to always recover from the old wp-config.php file whenever I upgraded Wordpress.

Is there any way I can recover or get my wordpress database password from PHPMyAdmin in Control Panel or something like that?

Is there any thing else I can do?

Or should I just back up the database, nuke it and then reinstall Wordpress to a fresh database and import the backed up sql file?

Any help would be appreciated. Thanks.

~ Rob