As you know in Windows 7 Professional versions is easy to manage password expiration and other user settings through Local users and Groups console. But this console is unavailable on Windows 7 Home versions, so you must do that using other ways. One of that is through the command prompt (you must run it as Administrator). There is a command net accounts and with switch maxpwage you can define time to change the password.
If you want to set the password never expires, you must type net account /maxpwage:unlimited.
Of course you can use this command for many other user settings. You can find detailed information here..