Anybody can call the setPassword function and change the password to whatever they choose.
There is no modifier or check which ensures that only the owner of the contract can set a new password.
Password can be changed easily by anyone.
Add an "onlyOwner" modifier to the setPassword function. The modifier logic should set msg.sender to the address of the owner of the contract.
Anyone can call `setPassword` and set a new password contrary to the intended purpose.
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