What is it meaning when it asks me if I want to reset encrypted data? And what will I loose if I choose to do this?

Do you want to reset the password that you use for future backups of your iPhone?

You can do this, but resetting the password for future backups will not allow you to access the encrypted backups that you have already stored......if you have forgotten the encryption password.

In other words, if you have forgotten the password for your encrypted backups, you will not be able to access the data in those backups.

There is no need for you to repeat the same question.

A volunteer will help when they are available.