We from Linkin Park Italy tried EVERYTHING, with every password on every frame...we did everything about steganography, and that's what we obtained: nothing.
I myself tried also to crack the gif's password, replacing the last 20 hex codes with other "custom" 20, but still nothing.
So we stopped to work on steganography and started to work on the graphic side. We honestly don't think that Mike would bring us to crack passwords or stuff like that, and every password we tried isn't correct, so...
I'm 101% sure that this game IS easier than we think it is to solve , a kind of game who also the "n00b-est" guy on this crazy planet can solve, even if it's hard to find the correct way to solve it.
Anyway, we all are still working on this easy but hard (?) game.