Updated snippet from user which changes 'Account Management' to 'Password Management' on a user's WordPress profile in addition to the snippet's original functionality.

change_account_management_text.php

<?php

function my_gettext_membership( $output_text, $input_text, $domain ) {
	global $pagenow;
	if ( ! is_admin() && 'pmproarc' === $domain ) {
		$output_text = preg_replace( '/Yes, renew at.+$/', 'Allow recurring payments using PayPal', $output_text );
	}
	if ( 'profile.php' === $pagenow ) {
		$output_text = str_replace( 'Account Management', 'Password Management', $output_text );
	}
	return $output_text;
}
 add_filter( 'gettext', 'my_gettext_membership', 10, 3 );