The procedure is fairly simply but a lot of people stumble on the fact that the chassis needs to be ON and you need to re-onsert the DRAC for the reset to be applied. If you skip this step, it will not reset (it's not like a motherboard BIOS reset). The default details are:
IP Address:
Username: root
Password: calvin
There is also more information on How to Configure DRACs online. I hope this has been helpful.