Seems about the same as deleting the password field in /etc/passwd In case you're wondering - the password field is x as the passwords are stored in a separate encrypted file.
My way doesn't require chroot, just being able to mount the partition.
On reboot you are immediately logged in as root before being asked a password.
Possibly a problem on a live system, but if this is a live system then you have bigger problems if you can't remember the root password.
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