Try to set/change as per your requirment in web.config as follows
<membership>
<providers>
<remove name="AspNetSqlMembershipProvider" />
<add name="AspNetSqlMembershipProvider"
type="System.Web.Security.SqlMembershipProvider, System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a"
connectionStringName="LocalSqlServer"
enablePasswordRetrieval="false"
enablePasswordReset="true"
requiresQuestionAndAnswer="false"
applicationName="/"
requiresUniqueEmail="false"
minRequiredPasswordLength="6"
minRequiredNonalphanumericCharacters="0"
passwordFormat="Hashed"
maxInvalidPasswordAttempts="5"
passwordAttemptWindow="10"
passwordStrengthRegularExpression="" />
</providers>
For example: you change minRequiredNonalphanumericCharacters="0" from minRequiredNonalphanumericCharacters="1", then you don't need the Non alphanumeric Characters any more.
You change other setting within this block as you want.
There was a great thread that had a lot of great time tracker fixes including changing the password requirements. See it here: http://forums.asp.net/thread/1128558.aspx