The series kicks off with a two-night debut event Aug. 9-10.
"The premiere features Fallon and Hamm competing in an episode dedicated to the late Betty White, a frequent player of the game and wife of the original Password host Allen Ludden," NBC said in a press release.
"In each of the hour-long episodes, a celebrity and Fallon will pair up with contestants over two games. Players from each team guess a secret password using only one-word clues in an effort to take home up to $25,000."
The game show originally aired in 1961 and has been revived numerous times since its first run.
Fallon played the game as a segment on his NBC talk chat programs Late Night with Jimmy Fallon and The Tonight Show before bringing it back again as a show in its own right.