How to change the WIN7 family group password

When you create a home group, a password is automatically assigned, but you can change it later.
Change Family Group Password
To open “Family Group", click the Start button

,“Control Panel”, type the family group in the search box. Then click on “Family Group”.
Click “Change Password", then click “Change Password”.
Type the new password you want to use (or accept the suggested password), click “Next”, then click “Complete”.
After changing your password, everyone will be asked to connect to your family group to enter a new password.

“Change family group password” dialog box