Hotspot Password Automatically On?

Change the password to whatever you want. This is the same password you are going to use when you run your phone as a hotspot.

 

-If you have a family share plan the hotspot feature is included (Verizon for me)

-Yes, mine came with a goofy password too like someone manually put it in themselves but that wasnt the case.

 

Yes, the default with built in hotspot settings is that it has a preassigned password.
As stated, you can change it.

 

yea, as stated, the option is available to people who have the shared data plan as its included with the plan. the password there is the stock password that it comes with the phone. just set up your own if you would like. its there to prevent someone else from logging into your hotspot should you activate it.