It's very important that you change your router's password so you're not using the factory default. Since the default router password is well known, your network is more vulnerable to hackers if you haven't changed it.
Here's how to change your Verizon router password:
Connect to your Verizon WiFi network as normal using your desktop or laptop computer.
In your browser (Chrome, IE, Safari etc.) type into the address bar “192.168.1.1.”
You will be prompted for a username and password, which can be found on the sticker on the router itself.
Once logged in, go to “Wireless Settings” and navigate to the “Security” menu. Then look for the “Change Password” field.