BEL
ERIAND: Venture untruth and note well: be troubled, for here be webs of horror!
- -
L?????: Swinger loses hesitation in a spin, but gets religion to reveal him.
T
UMLADEN: Belly overstuffed in the valley?
ANNATAR: She runs back and forth to meet a sailor; a most fair-seeming one!
I wondered if you might see Aule from the bottom two answers.
I am so sorry for not being attentive enough re. the Azog synopsis.
'Come! Let us see what Sting can do. It is an elven-blade. There were
webs of horror in Beleriand where it was forged. But you must be the guard and hold back the eyes. Take the star-glass and do not be afraid. Hold it up! Watch!'
I hear Ian Holm's voice when I imagine those words, even though the sentence about Beleriand and the webs of horror was cut from his speech.
See if you can work out where the other letters come from ... it's not musical notes, but something we used a lot when writing notes when I was at school, as an abbreviation of 'note well.'
Have a think about the 'venture' synonym ... I'll give the clue that it's a more 'adventurous' verb than the 'go' that Morsul suggested.
SWINGER- I was pleased at how that sounded in the clue, although it isn't something with all the different possible answers that something like 'flower' or 'bloomer' or 'spanner' suggests. And I give the further clue that it's nothing to do with wife-swapping elves.

Try to think of something that swings.
AULE, as you correctly guessed, is the password.