Well, most likely that is root's password it had you create. You will need this to login as root or run services that regular users don't have access to.
If you don't remember the password, well, you'll need to boot your machine to a single user mode to change root's password or to a shell prompt to change. Other than that, unless you go around changing alot of files and directories permissions, which I don't recommend, you'll just have to keep putting in that password to gain access to certain portions of your system.
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