Step 1

Login to our domain management control panel
Here: http://www.namesarecheap.com/managenames.shtml

Step 2

NOTE: ('Domain Locking' feature must be disabled - click on 'Domain Locking' to disable)

Click 'Profile'
Click 'Change Ownership of Domain'

Step 3

Type new <username> and new <password>
Click 'Change Owner'