According to Digital Inspiration that’s the case if you are using Windows XP because leaving the password blank makes it impossible to connect to the computer remotely. The link given in the article which points to the Password Strength & Password Security page at Microsoft.com is unfortunately not available at this point.
It is however still accessible through Google Cache and the article indeed contains a paragraph entitled The “blank password” option. The blank password is only more secure than a weak password like 1234 which can be easily guessed by a brute force attack. The article recommends this only if the location is physically secure.
While this might be a sound advice for some it is in my opinion way better to choose a secure password instead of none. It could be an option for the forgetful.
Update: The cached article is no longer available in Google search. It is likely that Microsoft has changed their stance in the meantime.
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You can also disable all remote connections via group policy, as well as disable services that allow for remote connections.