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If $RequireProfileEmail is set to '1', anyone attempting to create a profile must provide a valid e-mail address. The script will generate and email a random password to the address provided.

Boolean: 0/1

Users may change the initial password by editing their profile via the "My Profile" link in the navigation navbar.
If you want users to be able to change the email registered in the profile you'll need to set up the Profilehelp plugin available for download on tetrabb.com.
If $RequireProfileEmail is enabled, users cannot delete the profile.

By itself, this options only guarantees for profiles being validated.

For a even more restrictive access protection you may use this setting in conjunction with the $RequireProfile option.
Then anyone will be able to post on your forum, but in order to do so, a visitor will have to create a profile with a valid e-mail address. Since he won't be able to change the address or delete the profile later, you'll be able to identify anyone posting "offensive" material. The mere fact that a real e-mail address is required will probably prevent most such posts from being made in the first place.