This part of account controls is only for applying a password
If you understand how to use an FTP program, like Filezilla (Which is free) then this control will make uploading images and files to your account easier with drag and drop. Simply set the password of your choice. Then go to your FTP Application and set it up as you normally would and use the same password that you put in here.
Currently at this time, I do not have any help files written up for how to use an FTP Application.
I may however do that in the future.