They mean it has to be at least 8 characters. I agree, I had to change my usual password just to fit the criteria, and I don't want to have to do that.
No one has tried to get into my account though, but for some reason, I keep getting random IMs and emails from ad companies and random apparent internet stalkers telling me to talk to somebody. And the only two places I've stated my email is here at NIWA, and over on BMG where it is guarded against spam.