Go to the tree that is near the bomb house. Angle yourself so that you are not perfectly parallel with the wall. A good angle indicator is the tree root that you are standing near. Slowly mover towards the stone wall and the ledge. Do a sidehop, immediately followed by a jumpslash to get around the stone wall. Now climb on top of the wall, and jump onto the roof.
It is possible to Roll Clip into the railing of the pirate ship and jump to the loading zone behind the door. First, climb up the ledge and target as you do so. Hold directly left and do a Roll Clip, the tricky part about is that the frame after you perform the roll clip, you need to let go of the control stick so that Link doesn't jump back in bounds. The most common methods of achieving this are by either tapping Left for the roll clip so that the control stick returns to neutral immediately, or by pausing the frame after you press A for the roll clip and letting go of the control stick before unpausing. After successfully getting inside the railing, turn around and line up as parallel as you can with the railing using first person mode. There is not one solid visual cue you can use for lining this up so it is recommended to mess around with angles until you get a general feel for the angle necessary. After doing this perform a dry roll, then line up again with first person mode except slightly more to the right to account for the bend in the railing and do another dry roll. Now turn around and take out your sword. Backwalk until Link falls off of the edge of the floor while still inside the railing and then quickly do a jumpslash to get back on at the furthest point back. If Link clips upwards then your jumpslash was too early, If he falls, either your angle was wrong or you jumpslashed too late. You can also still make it back on with a late jumpslash, but your position will be too far forward to work with the part described next. Now that you're on the edge of the floor collision, go into first person and line up to the left a decent amount. Now sidehop and do a jumpslash to get into the loading zone behind the door.
By using ledge clipping you are able to skip the entire password and enter the pirate ship directly after arriving at the island. Get one of the pots you can find on the island and walk with it to the ship. Place it on the left rail near the door and make sure it's as far out from the rail and so near the wall as possible without falling of. Use the Deku Leaf to grab the edge near the wall and push left at the frame Link's feet are straightened out. Drop the edge while you are out of bounds on the next frame and glide to the loading zone behind the door.
This is probably the easiest method of doing Password Skip; however, it is slower than the Roll Clip method. First, you need to set the wind to be southeast. Then, climb up onto the top ledge of the Pirate Ship. Now carefully maneuver yourself between the corner of the 2 crossing ledges. If done properly, Link will be partially inside the back wall of the pirate ship. Now let go of the ledge and pull out your leaf. Aim yourself so that you can land on the thin collision that's under the railing on the side of the pirate ship. Now walk carefully along the collision while inside the railing. Once you reach the edge near the side of the pirate ship that has the door, turn around, walk off the collision, and do a jumpslash to land on the very edge of the collision. Go into first person view and turn left a little bit. Do a sidehop and you should land in the loading zone.