The communications firm was alerted to a password reset exploit that grants hackers access to user accounts, and deactivated the function while it investigated.
"We have had reports of a new security vulnerability issue. As a precautionary step we have temporarily disabled password reset as we continue to investigate the issue further," read a statement from Skype.
"We apologise for the inconvenience but user experience and safety is our first priority."
Following an investigation, Skype confirmed that some users with multiple accounts registered to a single email address were affected, and has reached out to those concerned. The password reset function has now been restored.
"Early this morning we were notified of user concerns surrounding the security of the password reset feature on our website. This issue affected some users where multiple Skype accounts were registered to the same email address.
"We suspended the password reset feature temporarily this morning as a precaution and have made updates to the password reset process today so that it is now working properly.
"We are reaching out to a small number of users who may have been impacted to assist as necessary. Skype is committed to providing a safe and secure communications experience to our users and we apologise for the inconvenience."
Skype launched the preview version of its Windows Phone 8 app earlier this week for users of the mobile operating system to try out for free.