The --userpass line is a flag, not your password. Only replace the items surrounded with <>
Here's my exact command line:
cgminer.exe -o stratum+tcp://mmpool.bitparking.com:3333/ --userpass wormbog2:d=4
My username is wormbog2, difficulty set to 4 (to reduce network chatter)
Feel free to send some hashpower my way if you want to test. That goes double for all you ASIC owners out there!