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Els password concerns



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I've been asked by some acquaintances to share with them an indicator which 
I've developed. While I don't mind them using the indicator, I don't want 
to share the code. How secure is the ELS password "lock"? Not that I 
suspect any of my friends, but once the indicator is out of my hands, who 
knows what could happen...
Are there any other security options for ELS's?

TIA

Philip