Facebook has a launched a new password security option called Trusted Contacts. The latest security option allows you to select few of your trusted friends, who will help you retrieve the password if you are unable to access your Facebook account.
If you set up the Trusted Contacts option in your account, the selected friends will be provided with security codes, which will allow you to access your profile in case you are locked out of your account.
The Trusted Contacts option can be enabled by going to your security settings and by selecting three or more friends. Once the trusted contacts are picked, Facebook sends a notification to those people and if your account ever gets locked, you can ask your them to request their security codes. Once you have three codes, you will be able to get back into your Facebook profile.