I have encountered with some suspicious behavior of create() method of User object manager. Looks like password field isn't required for creating User object if you use this method. In result you get User with blank password. In case when you use create_user method and don't specify password it creates User with unusable password (through to set_unusable_password()).
I am not sure why create() method doesn't raise exception when you try to create user without password - in documentation it's specified that this field is required.
Is something wrong in create() method/documentation?