The registration requires a valid email account since the first password is sent by email to the users account as part of the validation process.
The password sent by email can then be used by the user to change the password to something of his choosing. The passwords are encrypted in the system and can not be recovered. The system uses a secured webserver for this process, therefore your passwords are not sent open on the web. The resetting of the passwords is done by the same process.
The registration is completed with very Little information.