So you can assume (probably with good certainty) that you've got the correct password, but you can't be sure.
So pedantically speaking, it's not really reversible.
That's assuming no other constraints.
If the constraints on the password are strong enough (for example, must include letters, numbers, special characters, and be less than 30 characters) that there really may be only one input that satisfies those constraints and also hashes to the found value.
In most circumstances, is guessing your smartphone's pin code is equivalent to hacking the security of your phone?
In both examples, the end result is the same, but the process is absolutely not. Reversing a hash is a general solution that can be reapplied in all circumstances, much like finding a security exploit to bypass the lockscreen of your phone.
Looking up a hash in a rainbow table that matches is much like guessing your PIN. It works for that one specific case. It is not a generalised solution across the board.
It's how many a password db is cracked. A hash may have infinite unhashed representations, but if the maxlength (in bits) is less than the hash type, then rainbow tables can relatively easily handle it.