http://doc.slitaz.org/en:handbook:livecd#the-desktop

http://doc.slitaz.org/en:handbook:installation

:) Hope this helps!

The default passwords:
Normal user: tux
Normal Password: tux

Root user: root
Root Password: root

It is strange that the LiveCD is asking you for a login though. Which flavour/build of SliTaz are you using?

(I think X isn't starting so it's giving a text-based login...)

Actually I'm wrong about the normal user. The username is tux, but it doesn't have a password.