In Terminal @ PuTTY, make sure you are root i.e Frozzbyte:/ root#
If you're in mobile, it will display the $ instead of # symbol. To got to root, type "su root" (without the quotes).

type:

passwd root (example Frozzbyte:/ root# passwd root)

Change to anything you want. By this, you no need to worry about people snooping into your phone or forgot turning off SSH (btw SSH will not drain your battery if its running in the background unless your making a connection to it, so leaving it to "ON" in BossPref is ok).

@Fighteden
SSH is not like cmd in Windows. PuTTY/Terminal is like cmd, SSH is just the protocol. SSH = Secure SHell