Bowser's Password Puzzle

Bowser speaking: Well, well, Mario... guess you’re here to save your friends once again? Enter the correct code and I’ll let them free. But if you fail... well you know, right? Just one simple rule: you can only use each of the letters b-o-w-s-e-r once. Because I don’t have high expectations of you, 
here’s a hint: watch the arrow under the text 
box. Arrow up: the place in the alphabet of the
current letter you have to fill in is somewhere 
after the place in the alphabet of the previous 
letter, Arrow down: the current letter comes 
somewhere before in the alphabet. Oh, and the first letter comes for free. Good luck, wise guy. Whahahaha...!
mario

peach and toad