Ask HN: Is it okay for web hosting provider to have my Hosting UserId and Pwd

Hi, I purchased domain and hosting service from HostGator.in under Google's India Goes Online scheme. Mind you, it's in collaboration with google. I had some technical issues. Forget that the customer rep had no technical knowledge and she was absolutely arrogant, she at one point said this: "I have access to your cpanel. I'm using the userid and password and can login fine". I was shocked to know this! How do anyone has access to information as sensitive as this? On asking her to transfer call to her manager, she kept me on hold and left me hanging. But that's for another time. HostGator is pretty well known here and they have such kind of security measures. Is this commonplace?