I downloaded an application on LMC058 via somachine software and protected the application with a password, in case of losing the password is there any steps I can do to bypass the protection or recover the password?
There is no way how to bypass password protection in SoMa. If you enable project encryption you will see this warning: " If you forget the encryption password, your project file will be lost! It is not possible to restore the file contents in this case! "
So please be very careful when using project encryption.