No it doesn't. It has a standard username/password/forgotten email me setup.

What et1337 means is that you never even create a password, you literally login by putting just your email in, switching to your email, and clicking the link provided.

Given that most sites require you to do this when you first create an account to prove you own the email anyway, what was the point of having a password?

For cases when you want to trust this computer for logging you into X, but not into your email (compromised it lets anyone use anything that is yours), obviously.