An information recording system includes a recording medium capable of limiting a function by password and an information recording device for controlling the recording medium. The recording medium stores an input password, counts updating event(s) of a password, stores the update count of the password, outputs information stored in the password related information storage according to a READ request issued from the information recording device, compares a input password with a password stored in the password register, limits a predetermined function of the recording medium according to the comparison result from the password comparator. The information recording device stores a password and a password identification ID which is associated with the update count of the password, selects a password with reference to the update count of the password and the password identification ID and outputs the selected password into the recording medium to compare the passwords.