Firebase.resetPassword() password lifetime

I'm using angularJS and firebase as backend to create my simple web app. When .resetPassword() method is called, an email which contains a temporary password is sent to user, so he can login into an app. According to the following resource, lifetime of the temporary password is 24 hours:

http://ift.tt/21Qxy2p

So, I have a couple of questions - first, is it possible to adjust the lifetime? Is it determined by "session length" field on database dashboard?

Secondly, what happens after the temporary password expires? Is it just discarded and an old password can be used again?..

Thanks in advance