No you can't (or rather, it's not very useful). Sure, you can set someone's password to something you know that way - but since you've already got write access to the database, you might as well do it directly.
This is a flaw of any system that sends your password back to you in plain text, that is not shared by systems that don't.
If I can change your e-mail in the database and have it send me your password reset e-mail, I'm in. Write access to the database is a huge issue in that case whether or not passwords are hashed, encrypted, or plain text.
This is a flaw of any system that sends your password back to you in plain text, that is not shared by systems that don't.