1) Download SteamCMD: https://steamcdn-a.akamaihd.net/client/installer/steamcmd.zip
2) Extract it to a folder on your computer
3) Right click on SteamCMD.exe and run as Administrator
4) You will then see a black box open and lots of text appear, please wait until it stops and just says Steam> at the bottom
5) Click next to Steam> and type the following items in bold, pressing enter after each:
login anonymous
Then
force_install_dir se
then
app_update 298740 verify
6) Wait until the process has completed then type and press enter:
quit
7) In the folder where you ran steamcmd.exe from you will now see a folder called se , open this
8) Then go into the folder DedicatedServer64
9) Find and right click > Run as administrator on SpaceEngineersDedicated.exe
10) On the box that shown, select Local / Console and click Continue to server configuration
11) On the first page you see, set the password you wish here and click save
12) Open the configuration file by clicking on the Edit button
13) Search this file and you will see an a line for password hash and password salt.
14) Copy these values into the hash and salt fields in your control panel.
21) Click save
22) Start and connect to your server