Mac OS 9: File Sharing Owner Password Field Shows 8 Bullets

I typed my password into the Owner Password field in the File Sharing control panel and it shows eight bullets. My password is only 5 characters long. Why is it showing the wrong number of bullets?
In Mac OS 9.0, the owner password field shows the same number of bullets (8) regardless of the actual length of the password. This makes the owner's password harder to guess.
Published Date: Feb 20, 2012