OK, as soon as I posted the question here, I found the solution. First right-click on .sdf file in Visual Studio's Server Explorer and choose database properties.
In the new dialog there is a possibility to change the password:
Question
I would like to change the password of my SQL Server Compact 4.0 database. Is this possible out of Visual Studio 2010 (Ultimate, SP1)? Any help would be appreciated!
Solution 2
OK, as soon as I posted the question here, I found the solution. First right-click on .sdf file in Visual Studio's Server Explorer and choose database properties.
In the new dialog there is a possibility to change the password:
OTHER TIPS
Screen captures in VS 2012 Professional:
Database Properties">
Set Password">