If you like me like a more simple password for your local administrator password on your servers in a test lab or production :) then you can change it using the local security policy.

Problem is on Hyper-V Server 2012 R2, you don't have the MMC snap-ins to do it, so you need to use the command line as follows:

First export your security configuration using the following command:

Open the exported file with notepad.

Change the line:
PasswordComplexity = 1
to:
PasswordComplexity = 0

and save the file:

Now you can set your local administrator password to something simple! ;)