Disable password strength validation for Peer Grouping
By default, when a Peer Group is created that allows for password-authentication (or the password for such a Group is changed), Peer Grouping validates that the password meets the password complexity requirements for the local system. Thus, it will not allow any passwords to be used for a Peer Group that are weaker than what would be allowed for a login password.
This setting controls this validation behavior. If set to 1, then this validation will not be performed and any password will be allowed. If set to 0, the validation will be performed.
At least Windows Vista
Not Configured - No registry values are specified.
Disabled - Any values that would be created by the policy in the registry are deleted.
Enabled - Adding, modifying or delete values in the registry.
User Interface can be found in the Group Policy.
Please navigate to Computer Configuration - Policies - Administrative Templates - Network - Microsoft Peer-to-Peer Networking Services folder.