The recovery phrase, also known as the ‘Seed Phrase’ is an enumerated set of words (1-12) that will grant you access to your wallet. It is vital to not lose the Seed Phrase as it is the only way to recover your account if you forget your password. The recovery phrase allows any wallet to generate their private key and gives them access to their funds. Your Stargazer password is created locally and just protects anyone local to that computer from accessing without knowing it. If you know the recovery phrase you can install on any machine and create a new password.