I had the same problem, and was not sure if a password ever got set. I don't think so because it lets me enter the MySQL monitor without typing a password. I have tried typing:
/usr/local/bin/mysqladmin -u root password newpassword
and I get the following:
./bin/mysqladmin: connect to server at 'localhost' failed
error: 'Access denied for user: 'root@localhost' (Using password: NO)'
An earlier post said that this command needed to be preceded with a sudo, so I tried the following:
su /usr/local/bin/mysqladmin -u root password newpassword
and then when prompted enter my normal login password (I am the admin user).
I then get the following error:
Any idea what is going on? Thanks.