You should make sure to read our other articles on the Windows 7 Homegroup feature:
Use the Homegroup Feature in Windows 7 to Share Printers and Files How To Disconnect a Machine from a Homegroup Learning Windows 7: Create a Homegroup & Join a New Computer To It Change Which Files are Shared in a Homegroup in Windows 7 How To Disable or Enable the Homegroup Feature in Windows 7
Finding Your Homegroup Password
Open up Windows Explorer, and then find the Homegroup option in the left-hand navigation pane. Right-click on Homegroup and choose “View the HomeGroup password”
And there you go, your password in nice bold text—and there’s even a print button.
Rather easy, wasn’t it?