Download Kendo UI and try out the validator on your own forms.
And remember - if this whole 'web development' thing never takes off, there's always a future in politics!
As stated here the Validating Password event has completed, the properties of the Validate Password Event Args object supplied as the e parameter can be examined to determine whether the current action should be canceled and if a particular Exception, stored in the Failure Information property, should be thrown." Here is some details/code which really shows why Failure Information shouldn't be always null any password security conditions not matched.
You can try this Installation Exit in your instance by checking the "active" flag and updating the record.
Different validation checks are available, and additional options can be set for minimum and maximum length and country-specific checks.
Both a result set containing the valid codes as a result set containing the invalid codes will be outputted. These codes can be anything: passwords, postalcodes, e-mail addresses, creditcard numbers, and much more.
To test, check the Password needs reset box on a user record then login with that user.
Validation will occur at the point that the user attempts to set the password.