The main thing I use iLO for is the remote (full screen) console (inc keyboard/mouse) that it makes available over the network.
So, if I want to muck around with settings, change boot things (like in your case), etc, it's all doable from anywhere in my house via web browser.
Keeps things pretty straight forward. From memory, the default iLO password for each machine is randomly generated and printed on a tag attached... um... to the back (I think?).
But there's a physical switch you can set (inside somewhere) which disables the iLO login password. Less secure of course, but for a home environment that can be the right choice. :)
