Golden Rules for Password

Most of the people will not have debate about the rules for password as it is standardised rules now a days.
The Golden rules for password are :
1. Password cannot be blank.
2. Maximum 12-20 characters are allowed.
3. Minimum 6-8 characters are mandatory.
4. Mixed uppercase and lowercase character must
5. Atleast 1 numeric character is required
6. Atleast 1 special character is required
7. Most important it must not be visible when it is type/keyed in. It must be displayed as asterisk or some other character

If anyone have any other thoughts please feel free to comment.