Password possibilities question

How does one determine the number of possibilities for guessing a password?

E.g. say I have a 8 character password and each character can be one of 62 characters (alphabet uppercase, alphabet lowercase and numbers 0-9). Does this mean ( to somebody who might want to guess the password) that there are 62^8 (thus 218 340 105 584 896) possible combinations?
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youngrmyConnect With a Mentor Commented:
don't forget the 15 Ascii charachters as well.  this would give the number possible password combo's as 77 to the 8th power

77x77x77x77x77x77x77x77 = total

YES  77^8
Wes MillerInfromation Technology SupportCommented:
Yes that is correct, but the possibilities can be increased further  by allowing for  any addtional ascii characters  such as puntuation and symbols, aswell as Ctrl Characters to expand the range of combinations..
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