his image is a really huge one. Might it have something embedded in it?

btsync: BWFYZ2SRNTPHGP6MUTIBOEWJ6GQDJMDCD

https://s3.amazonaws.com/volgactf/stegasic/200/stego200.png

HINT: Every byte has LSB, even if it isn't a pixel value.
HINT 2: The password is five-letter word that can be found in many dictionaries.
HINT 3: Take a close look at the image palette.