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GroupDocs.Merger allows to update password from password-protected document. The resultant document will have new password.
Here are the steps to update document password:

• Initialize LoadOptions class specifying current password;
• Instantiate Merger object with source document path or stream and pass LoadOptions object to it;
• Initialize UpdatePasswordOptions class specifying new document password;
• Call UpdatePassword method and pass UpdatePasswordOptions object to it;
• Call Save method specifying file path to save resultant document.

The following code sample demonstrates how to update document password:

string filePath = @"c:\sample.xlsx";
string filePathOut = @"c:\output\result.xlsx";

ILoadOptions loadOptions = new LoadOptions("SAMPLE_PASSWORD");
IUpdatePasswordOptions updateOptions = new UpdatePasswordOptions("NEW_SAMPLE_PASSWORD");

using (Merger merger = new Merger(filePath, loadOptions))
{
    merger.UpdatePassword(updateOptions);
    merger.Save(filePathOut);
}