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As far as I know there is no limit on how many times you can change a password. Also, the 5-day restriction is for if you reset your password, not change it.
Resetting your password is what you do when you forget it, and have to use the automated recovery system.
If you forgot your password and couldn't log in, you could reset it using the "Retrieve a lost account" option found on the clients login page.
ETA: Ninja'd
Yes. The exception, per the message I posted above, would be if your account has had no activity on it for two months. In that case it would be 30 days.
Here's the Steam Support article: https://support.steampowered.com/kb_article.php?ref=1047-EDFM-2932