Verizon with Actiontec modem, will not hold password?

I do not think the password is the issue. It is a little deceptive the way they display the password but it is common to replace the actual password with a set number of dots regardless of how long the actual password is. The reason for this is it's easier for a hacker to crack if they knew how many characters are in the password. So the system replaces the saved password with the same fixed length indication. PPP provides a means of authenticating your modem to the ISP.
If you are loosing connection frequently this is because of your line to the internet service provider is faulty or the modem is defective. Make sure the cable is firmly connected from the wall to your device. Restart the device. If still problematic call the ISP and have them test your line. Hope this helps!