Make sure that you keep a secure record of this password. You need to enter the password each time you want to use any of AppTrack's facilities, including installing and uninstalling licenses.
If the license database exists, the password is also stored in the license database. If the license database doesn't exist, the password is saved in AppTrack. As soon as the database is created, which happens when you install a license, the password is saved in the license database. This is so, even if you delete all licenses from the license database.
After you set a password, you might find that the next time you run AppTrack, you are again prompted to create a password. This happens if you exit AppTrack after setting the initial password, but do not install a license.