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Managed Accounts SharePoint 2010
To reduce the load of managing various 
service accounts in Microsoft SharePoint Server 2010, the concept of managed 
accounts has been introduced. Much like managed accounts in Windows Server 2008, 
they allow SharePoint Server to take control of all the service accounts you 
use. After SharePoint Server has control of these accounts, it can either manage 
their passwords — automatically changing them as necessary — or it can notify 
you when an accounts password is about to expire, allowing you to make the 
change yourself.
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