When you create your very first HSM within your cluster, the HSM will contain a Precrypto Office (PRECO) user that contains a default username and password. When your first HSM is set up, you will need to connect to it and log in to the HSM to activate it. Until you do so, your HSM will remain in an initialized state.
When connecting to the HSM, you will need to use the PRECO credentials and then change its own user password. Doing so will activate your HSM and your PRECO user will then become a Crypto Office user. The only permissions that PRECO has is to change its own password and perform read-only operations on the HSM.