I found this very strange The permitted characters and length for passwords are defined as a regular expression in Evernote’s API, but spaces are left out, Evernote says, because leading and trailing spaces presents a problem. “Software needs to precisely determine how to treat leading and trailing spaces,” Dave Engberg, Evernote’s CTO, told Ars. “Some UI frameworks and third-party applications would unreliably trim…
Re: why you'd have a regex for validating passwords, I assume this is in the password setting user interface, so you can give the "hey that password doesn't meet the requirements" feedback without waiting for a round-trip to the server.
Edit: the real frustrating thing about this article is that it doesn't actually answer the question in the title, and nobody seems to care. Yeah, Microsoft, great point: longer passwords may not actually be more secure, but prohibiting them causes your users problems if they've developed a nice consistent scheme for generating their passwords and have to have a special exception for your dumb site that limited the length for no good reason.