Yes, that is the correct password value. As soon as I saw your reply I edited the actual values in the connection string you posted to replace them with xxxxx, etc. Never post actual connection string values, especially for a publically accessible database server in a forum such as this.
When moving a DotNetNuke installation from one hosting provider to another you will not be doing a new installation of DotNetNuke framework on the new host but rather:
1) If the site URL will be changing, add the new URL to the site's Portal Aliases.
2) Transferring ALL of the installation's files (including the web.config file) from the root folder on the old host to the website root folder on the new host.
3) Changing the two database connection strings in the web.config file to contain the correct connection information for the new host's SQL server.
4) Backing up the database located on the old host's SQL server and then restoring it to the new host's SQL server.
5) Repointing your site's domain registration name servers to the new host.
There are a number of steps to each of the above procedures and several potential issues you will have to work out along the way. I have never done an install on or migration to GoDaddy server but understand that DotNetNuke must be installed in a sub-folder of the public site folder and suspect that that may be an additional complication, particularly for any root relative file paths to images, etc. used in the existing site. I am also not sure what capabilities GoDaddy give you in their hosting control panel for setting filesystem permissions and restoring/directly accessing the SQL database.
You will also need to be certain that the new hosting account meets the minimum requirements for your current DotNetNuke version and later upgrades. For example, DotNetNuke versions 5.2.0 and above require ASP.Net 3.5 SP 1 and MS SQL Server 2005/2008 (standard or express).
Here are a few links to blog/forum posts and discussions relating to moving a DotNetNuke site that may be of help. Some are a bit old but the basic procedure is still the same:
http://www.dotnetnuke.com/Community/B...
http://www.mitchelsellers.com/blogs/a...
http://www.bestwebsites.co.nz/dotnetn...