I may be misunderstanding the situation, but I think you'll be fine.
Password are ALWAYS validated on a server, never the client. The client may store a password for ease-of-use, but it will never be in charge of validating anything.
If passwords were validated on clients, it would be easy for a malicious user to write a program that always told a server "this person's password is valid, give him access to everything".
Since you had your server account password changed, it should be okay. You have a stale stored password on your client that won't do anyone any good.