Absolutely. Creating a strong password helps ensure that your server's contents are maintained safely and only modifiable by those you trust. Preventing this breach of security helps to ensure that your work is safe from others, potentially saving time and energy from needing to restore or recreate work after it has been compromised.

Additionally, having a secure password can prevent others from adversely using your server to participate in network attacks and send spam email, both which will have adverse effects on your own operations. Preventing others from using your server for these purposes will eliminate our need to potentially suspend your server until the problems are addressed.