There are two keys associated with wallet 1st active and 2nd owner key. What if I forget this keys and want to recover how can I do that on a private network?
eosio.recovery contract provide user to recover their account if their owner keys are stolen.
For this purpose you need to
set a permission ‘recover’ and provide a trusted account for recovery.
Now let any one stolen your account keys. If you are an active member of EOS then
you must use your account at least one time in a month.
So if your keys are stolen still you can use your last 30 days active key and that trusted person account to restore you account. You can restore your account. The trusted recovery friend can ask for your personal details like phone number/ emails so that any hacker can’t have full authority before 30 days.
In addition the
trusted friend only helps you to recover your account
, in other words it can’t do any other action except recovery and recovery is possible when the owner needed the recovery otherwise trusted person can’t recover your account.
In Dan's post he also says: There is only one scenario that could leave an individual helpless: losing their active key at the same time as the hacker gets the key. This can largely be mitigated by having an adequate backup strategy with redundant keys. That could be considered a limitation.