Change your Password on Website by these steps
Visit the AOL account setting page from the AOL website.
Sign-in to your AOL account.
Answer the security questions in order to change the password.
After that “Click change My Password” and enter the new password.
You are all set to rock and roll now.
Change your password on your Apple Device
To change your Arcanum on your Apple device first you need to change in the website.
Got to settings on your Apple device.
Then tap on “mail, Contacts, Calendars.”
Then tap on “AOL” and then tap on your email address.
Now, tap on “Password” option
Type your newly created AOL password in there.
Tap on done in order to save the changes.
You are good to go now.

Ref Source - https://www.usatechblog.com/blog/how-to-reset-change-recover-aol-password/