Password???. We don't need no stinkin' passwords!
It sounds like you're trying to get into the area where you set up ethernet communications. That needs a password, but there is no need for you to set up ethernet communications.
Please post the exact sequence of keystrokes that get you to the point where you are being prompted for a password.
You will need to get your USB converter installed as COM4 or lower. Logicmaster only recognizes COM1 through COM4.
From the very first screen that appears when you launch Logicmaster, hit F9 (setup), then F4 (PLC communications option) and make sure that the "Communication device" is "Serial Port".
Once you've verified serial communications, hit <ESC> until you get back to the main screen. Then hit F1 (program) to enter the programming module. When you get into it, you will be prompted to select or create a program folder. If you don't have any folders listed, type in a new name like "Today". Just don't use the name "TEMP". That's reserved for special needs.
Once you're in the programming module with a folder selected, hit F7 (setup), then F4 (comset). That's where you select the COM port. Use the <Tab> key to scroll through the options. When you have selected the port you want to use, be sure to hit F6(setup) to activate your choice. Then hit F7 (save) to make sure that next time you launch Logicmaster it will remember your selection so you won't have to go through the whole procedure again.