The password alone cannot be initialized.
It is necessary to initialize the device to factory setting.
All IP cameras by Hanwha  Techwin feature a button that initializes the camera to factory setting.
(Button 3 from the image below is the initialization button)

 With the power on, press and hold the button for more than 5 seconds to initialize the device.

Hanwha Vision is the leader in global video surveillance with the world's best optical design / manufacturing technology and image processing technology focusing on video surveillance business for 30 years since 1990.