Yes password being an intangible property of the owner also gets covered under IPC Theft also i would defer with Mr. Sanjeev panda on IT Act A 2008 Section66c because it is consequence of password theft and not for password theft...S(66)(c) talks about Identity Theft and not data/source code Theft.
section 43(a) & S (66) of IT A Act 2008 would be applicable
If any person without permission of the owner or any other person who is in charge of a
computer, computer system or computer network -
(a) accesses or secures access to such computer, computer system or computer network or
(b) downloads, copies or extracts any data, computer data base or information from such
66 Computer Related Offences
If any person, dishonestly, or fraudulently, does any act referred to in section 43, he shall be
punishable with imprisonment for a term which may extend to two three years or with fine
which may extend to five lakh rupees or with both.
Prashant Mali [BSc,MSc(Comp Sci),LLB]
President - Cyber Law Consulting