diff --git a/database/migrations/2020_12_21_153235_update_min_password.php b/database/migrations/2020_12_21_153235_update_min_password.php
new file mode 100644
index 0000000000..a05ec88892
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+++ b/database/migrations/2020_12_21_153235_update_min_password.php
@@ -0,0 +1,38 @@
+<?php
+
+use Illuminate\Database\Migrations\Migration;
+use Illuminate\Database\Schema\Blueprint;
+use Illuminate\Support\Facades\Schema;
+
+class UpdateMinPassword extends Migration
+{
+    /**
+     * This migration solves the issue of settings with a minimum password requirement
+     * that is below the actual Snipe-IT minimum requirement in v5 (min 5 became min 8).
+     *
+     * Even though we documented the change in all of the v5 releases, we were still
+     * running into issues where admins did not update their password minimum length
+     * and could not save settings elsewhere, and would not see a warning.
+     *
+     * @todo Loosen up the model level validation for the Settings model and rely on
+     * FormRequests where it makes more sense. Having a form that returns no useful
+     * errors is a bad design pattern.
+     *
+     * @return void
+     */
+    public function up()
+    {
+        App\Models\Setting::where('pwd_secure_min', '<', '8')
+            ->update(['pwd_secure_min' => '8']);
+    }
+
+    /**
+     * Reverse the migrations.
+     *
+     * @return void
+     */
+    public function down()
+    {
+        //
+    }
+}