It can be configured to use the same name for both bands, or separate names, depending on your preference.
#3 Do I have to use password included or can I change password?
You can change the password through the app or the web address.
#4 Does this help improve satellite internet performance?
I do not have satellite Internet but I do have wireless Internet and the TP-Link (Archer8) router has improved the signal strength inside the house well above my expectations.