How can you get root access in the Terminal? Obviously a password is requested - but what is it, or how can I set one up?

Thanks.

Root access is locked by default. You have several options to unlock:

You can either use the flasher to put the device into R&D mode or, a lot simpler, install the package becomeroot.
Then you can simply enter
in the terminal. No password required.

Or you can install openssh, it asks for a root password. Then you can use
to login as root with the new password.