To provide a more secure user experience for the application, you might want to customize the password complexity policy. This might include minimum password length, mandatory special characters in the password, disallowing recently used passwords, etc. More information on password policy can be found here. By default ASP.NET Identity enforces a minimum password length of 6 characters. This article provides a simple walkthrough that shows how to add a few more password policies to an application.
Worth reading to understand how extensible is the new ASP.NET Identity System.