The contract's comments hint that you are able to store a private password that nobody can see, but that is impossible in the sense implied.
As per the contract's comment:
Anyone can access a smart contract's code once it's deployed on the blockchain. Since it is transparent and accessible, the data will be visible and not private in the real-life non coding sense.
From the Secureum Bootcamp:
Since the blockchain is open-source, data with the modifier "private" is never private. It is advised to never store sensitive data on the blockchain.
Your private password is not so private :) Rating this as high since the password could be crucial to some financial account where funds are stored.
Manual Review
Do not store sensitive information like passwords on the blockchain.
Private functions and state variables are only visible for the contract they are defined in and not in derived contracts. In this case private doesn't mean secret/confidential
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