As an author who has used passwords a few times, in my opinion, it depends on what you're using the password for.
If they are meant only to make sure that the reader follows the entire series....then I think Ritz has the right idea. Lock 'em for a few weeks, then remove the passwords all together. Some users don't have the time to do the entire series. Some simply don't want to. Others may have done them before, but have gone back because they liked it. Now unless they're keeping a file somewhere with all the pass words in it, they have to start over from the beginning just to get back to the part they liked. That's annoying.
However, passwords do have their place too. As masterstroke pointed out, I thought the use of passwords in Big Cock Browsing was an interesting and unique way to frustrate the crap out of the user. It was afterall a tease, and that was the point.
Personally, I've used passwords on occasion as a "memory" device. When you begin the next part, the story picks up where you left off, not necessarily where everyone else left off. The original intent was to make sure that your decisions during the session could affect what happens next. However, after a few experiments with it, I found that it was becoming far more frustrating for me as the writer than it was for the readers. I had to keep all those choices straight, make sure all the links went to the right place, not to mention writing several different stories for each part of the series......

......became a LOT harder to impliment than I had anticipated. As a result, I never linked more than 2 parts together that way. So even if the passwords annoy you....you don't have to go all the way back to part 1 to get them.
I don't know how all the other authors feel about it, but for me, as Sexual Chocolate mentioned....I have no problem telling you the password if you ask. I have done so for some readers who followed one path, but were curious what other choices might have done and didn't want to re-do the entire tease to find out.
However....you might have to wait a bit for an answer because even I don't remember them now.
