If there are no messages, the password is shown.

積丹尼 Dan Jacobson <[email protected]>
Newsgroups gmane.comp.gnu.mailutils.bugs
Message-ID <[email protected]>
If there are messages, the password is nicely hidden:

$ mail.mailutils --file imaps://...
"imaps://example%40example.org:***@homie.mail.dreamhost.com/INBOX.Spam": 2 messages 2 new

If there are no messages, the password is SHOWN:

$ mail.mailutils --file imaps://...
imaps://example%40example.com:[email protected]/INBOX.Spam: 0 messages

Version 3.5.
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