This is an easy one, but it comes up just often enough to be worth the post.
You can “lock” the MDaemon console by using the option available in the right click menu of MDaemon’s tray icon. Once locked, you cannot access any of MDaemon’s controls without entering the password.
So what happens if you lost the password?
Shut down MDaemon (services.msc –> Stop the service, or create a “Exitnow.sem” file in the \MDaemon\App\ directory), then go to the [Special] section of MDaemon.INI, delete the LockPassword= line entirely.
Doesn’t this totally defeat the purpose of the password? — Well, not really. MDaemon is only as secure as the operating system running it, if an attacker is already logged in with administrative access, and can read/write anywhere on the drive they desire, they’ve already won.