I quickly read the pdf on that router. Unless there's a newer firmware for it, you're pretty much stuck with using WEP, it beats nothing.
Don't worry too much about using a Passphrase to get a generated Hex WEP code. Just pick 26 characters and copy/paste that code into the 128bit WEP code window. Since different manufacturers use a different way of generating the Hex string from your 'Passphrase" a Linksys router won't always connect to a wireless adaptor that uses a different manufacturer, say Dlink, that uses a different way to generate it's code, even when using the same passphrase. I know that sounds confusing, but it's easier in the end to pick the hex code string, like in your post (55F3723EC0836E20DE4B5E458F) and use that code for both the router AND the laptop, or wireless adaptor's client manager. For the 128bit code, you'll need 26 hex characters.
You may find it easier to goto directly into your router from your web browser and not use the software wizard for your router, to enter the info. Type the IP address of your router into the address line (URL line) of your browser, enter login/password to router and use the Web based menus to config the WEP code. By default, your router should have an IP in the 10.0.0.x range, check the router manual for the default router IP address. BTW, be sure to change the routers default password, turn off UPNP if it's offered, change the SSID of the router,and turn off ICMP (become un-pingable on the Web).
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