Edimax Technology PS-1206MFG - Manual (Page 65)

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You can select “64 bit” or “128 bit” length and “Hexadecimal” or “ASCII” format
for the encryption key. Longer key length can provide stronger security but
worth communication performance.
PassPhrase – A “PassPhrase” simplifies the WEP encryption process by
automatically generating the WEP encryption keys for the MFP Server. This
setting is only valid when the security mode is in “WEP(HEX)”.