Graupner MZ-12 Issues

I got a Graupner MZ-12 transmitter with a GR-16L receiver but I have not been able to get it working properly yet. Here are the issues that I am having with it:

Receiver binding
I am able to bind to the transmitter to the receiver and use the transmitter as expected, but once I power the transmitter or receiver off, they do not automatically bind when turned back on. I must manually bind them each time I turn the transmitter on.

Transmitter fails to save some settings
Some settings fail to save such as the battery type setting. I can change from the default of "NI-MH" to "LiPo" but once i turn the transmitter off and then back on, the settings have switched back to default.

Unable to perform hard reset
Due to the issues above that make the transmitter more hassle than it is worth, I would like to perform a hard reset on it. I found a video for performing a hard reset on the MZ-24 receiver and tried it out on my MZ-12 and it seems to be the right path but I am stopped by a password entry screen.
To perform the reset, I held all 4 trim buttons toward the power button while i turned it on, but then I am greeted by the screen pictured below and have no clue what the password is. The buttons that act as entries are the 4 trim buttons clicked in either direction and the 4 directional buttons used for navigating the menus. I was never prompted to set up a password so I have no clue what it is or if there is a default password.

Any help is much appreciated!