It always makes mine 40 asterisks long too, but it still works, once it says you logged in successfully, just check those boxes, and it should work.
-Cusoman
Edit: After re-checking the boxes, and NOT changing your password from the 40 *'s, please state and/or restate the servers its not letting you in, or take a screen shot of the server list with the servers highlighted that you cannot get into.