What this code means?and telnet
mcedit /etc/inetd.conf # telnet stream tcp nowait root /usr/sbin/telnetd telnetd
You run mcedit. mcedit in my favorite visual file manager. And via this manager you edit this config file /etc/inetd.conf.
And you must in this file add #. This means this line is 'just comment'. And inetd will not start this program (/usr/sbin/telnetd) after start your box.