Since the new #jj2 doesn't like to report QuakeNet news. I just made for you a blunt copy/paste from the Quakenet site:

As you may have noticed, earlier today the password for every Q account was changed. This was due to a suspected leak of some encrypted passwords from the QuakeNet website, shortly beforehand, causing the passwords to be changed as a precautionary measure whilst we investigated.

If you use your Q account password as any other password, we recommend you change these as well, to ensure you are fully secure.

You will be able to request your new password using Q's REQUESTPASSWORD command, as follows:

/msg Q REQUESTPASSWORD your.email@address.here

We would like to assure users that we are working hard to ensure this cannot happen again, and we apologise for any inconvenience caused.