Do you mean do away with the password or do away with the Microsoft account?
If it is a Microsoft Account you can't do away with the password because this would also do away with the password to your live services meaning your account would be instantly hacked/exploited - the answer to that is no.
Do away with the Microsoft account? Yes, just create a new local user. You can do this during setup or after by creating a new user account.
Or just changing the account from a microsoft account to a local one by going to the account name, top left of the dreaded metro ui start screen, left click, choose change account picture, go to users and then it is possible to swap to a local account.
Horrid idea having my computer linked to Microsoft all the time.
Desktop machine now powered by windows 7 pro 64bit , laptop by ubuntu
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