To access the advanced settings section click this icon in the control panel:
Your password for MySQL needs to be different from your password to your FTP account. This is to secure your files and database in the best way possible. Clicking Next will take you to the form for changing your MySQL password.
Enter your new password and confirm it in the box below and click Save in order to change your MySQL password.
Note: it may take up to 15 minutes before the new password works.