Here's a way that should work and no need to modify a core JS file. Just drop it into a custom JS file and ensure it's included after validation.js
.
Validation.add('validate-password', 'Please enter 8 or more characters. Leading or trailing spaces will be ignored.', function(v) {
var pass=v.strip(); /*strip leading and trailing spaces*/
return !(pass.length>0 && pass.length < 8);
});
It essentially just replaces the callback validation method that is originally set in validation.js
with one that checks for 8 characters or more.
I'd be curious to know why you don't want to add the validate-length field as it seems like an easier approach to me.
NOTE: I haven't used this personally I just whipped it up on the demo store and tested it briefly.