Once you've added the Personal Hotspot/tethering to your data plan, you'll see this screen when you tap on the Personal Hotspot menu on the Network screen.
To start up your Personal Hotspot, slide the Personal Hotspot slider to On.
The password is the one you'll give to people connecting to your hotspot via WiFi to allow them access. If you want to change that password, tap the password field and edit it on the next screen.
