Instagram was breached and a lot of information was leaked, luckily it didn't include passwords.
Many people received emails to reset their password and hopefully had the sense to not take action and just delete the email.
If you are worried and want to reset your password anyway, may I recommend Bitwarden (https://bitwarden.com) and Google Authenticator (iOS: https://apps.apple.com/us/app/google-authenticator/id388497605 | Android: https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2) for 2FA.
