[HOW TO] Reset the LG Ally
 

Just need a basic reboot?

On the "home screen" hold down the power button and you will get a screen that will allow you to power off the phone. Once powered off, just press it again to turn it back on.

Need a complete device wipe, aka hard reset or factory reset?

From the Home screen, press the menu key. Touch Settings, Privacy, Factory data reset and touch reset phone.

Warning, this second option wipes everything off of your device.