The Password component is a text box that hides what the user types. Use it for the password on a user sign-in or registration form.
How passwords are stored
On every form, GlobalForms stores a Password value as a one-way hash, not as the text the user typed. The original value can't be read back, by administrators or anyone else, and it isn't shown when the submission is viewed.
This makes the Password component right for GlobalForms user accounts, and unsuitable for collecting a value someone needs to read later, such as a password for another system. To mask a value that must stay readable, use a Text Field with Hide Input, and keep in mind it is stored as plain text.
Settings
Password has the standard Display and Validation settings, such as Required and Minimum Length. It has no Data tab, so it can't have a default or calculated value. See Common Component Settings.