Looks like the Playstation network will probably be coming back online before the May 31st date. As of right now, a new firmware update is available. This is the firmware that is supposed to secure the system and will force all user to change their passwords.
Before you get too excited, the PSN is not back online. If you want to start playing games as soon as it does go online, then this update is for you. After you update your system with this firmware everything will remain the same. The system will say, “Your password is no longer supported. You must change your password” when trying to log onto the PSN. It then follows up with “The system is undergoing maintenance”.
We have been working on a new PS3 system software update that requires all PSN users to change their password once PlayStation Network is restored. The update (v3.61) is mandatory and is available now.
If using a PS3, your password can only be changed on your own PS3 (or a PS3 on which your PSN account was activated), as an added layer of security. If you have never downloaded any content using your account on the system, an email will be sent to the registered sign-in ID (email address) associated with your account when you first attempt to sign-in to PSN. This e-mail will contain a link that will enable you to change your password. In this email, click on the link and follow the instructions to change your password. Once you have changed your password you can sign-in to your account using your new password.
We strongly recommend that all PSN account holders with PS3s update their systems to prepare for when PlayStation Network is back online. The release of this update is a critical step as we work to make PlayStation Network significantly more secure. Thank you for your continued support and patience.