Credential manager password invalid?

I'm somewhat new to Android, but I love everything about it. I have a Galaxy player 5.0, running Gingerbread. I wanted to do a factory data reset on it, but when i tried to do it with the power key/volume up button, a password popped up. So i figured out that it must have been the credential storage password. The problem was, that i didn't remember what i had set it as, so i just did everything i could think of, until it said "one more try and you will lose data on your sd card". BUT, that's exactly what i wanted done-a data wipe. SO, what's the point of the password popping up there? I entered another wrong one, and it did a reset, and i had no more problems. I tried to do a factory reset in settings(purposely entering the wrong password), and it did the same thing.So my question is: why a password there, when you can just knock it out so easily?

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