How to decrypt my files using my recovery key?

How can I do that? I can't find any information about that. Also, I rent a shared hosting, so I do not have access to terminal (unless it's hidden somewhere in cPanel).

There is no official program. There is a way with the occ-command: https://github.com/owncloud/core/issues/13591
And there is a decryption tool (don't know if it works):
https://github.com/arno01/ocdec

And some user on Nextcloud is working on it as well:

Unless I misunderstood something, it requires username and password, which I do not have. I do have my username of course, but not the password. I have set a recovery key though, which is exactly what I want to use to decrypt my files.

Also, I'm not sure if I can run an .sh file through simple shared hosting cPanel.

First of all, do a backup of the data in case something goes wrong. Did you try the official way? You reset the user password and then you can use the recovery password:
https://doc.owncloud.org/server/9.0/admin_manual/configuration_files/encryption_configuration.html#enabling-users-file-recovery-keys

I do not have shell access, I'm renting shared hosting. I can only do something through php files, database, etc..

I just don't see a field where I can use the recovery password.

For using the recovery password, you won't need shell access. For further restoring trials, it's probably better to use a local virtual machine with full access. Are you sure that the user had the recovery-option enabled?

The user is me (admin), and yes, I had enabled it. In fact, I just changed my password for it just to make sure that I remember it and that I had it enabled.

So the admin user is actually also the user who needs to reset the password? And you enabled it on the personal page of admin. If you followed the guide, it should work. I don't have a encrypted setup to verify....
If you don't get useful answers here, consider opening a bugreport on github.

Well, I just don't see a box to enter recovery password. The only places where I see it is when creating a new user OR the fields to set/change it. Where should it even be?

Since I'm not getting an answer here, where can I find the github bug report?

You can report bugs at https://github.com/owncloud/core/issues