Passwordreq No – A hacker prospective

Ever have one of those topics that you know you’ve looked up 100 times but never can remember the answer?
I was having one of those moments in a recent conversation on the NoVA Hackers mailing list (If you want to join please read the instructions before requesting to join)
The question came up as to what effect “Password Required: No” means in a net user UserName is.
As usual, MSDN isn’t very helpful:

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