If they want to know the password for your email account, you will need to contact them and ask for clarification. You can get in touch with IOLO Technologies using
626.320.1800 phone numbers. From what it seems, they want to know the password of your IOLO account in order to check if you're a System Mechanic user. If you're using the same password on your email and IOLO account, I suggest you change it for one of them.
In order get the new System Mechanic release, navigate to the official web page, press the Click here link, save the file to your computer, launch it and follow the on-screen instructions.