Here is a screen shot. This is the registration page, which you can get to by trying to add a product to cart when you are not logged in, and then asked to register.
http://i93.photobucket.com/albums/l68/Roffello/RegistrationErrorMsg.png
I had just entered a 5 letter password, and this was the error message I received. I would like it to be more clear, saying that the password was not long enough.