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When I open NI License Manager 4.1, there is no option to Log Out. I do remember providing NI account credentials, but I think that's just a one-time thing so that it can send you an email and associate products with your account.
FYI, if you don't explicitly log out, you're still logged in (meaning your password is still stored on the computer). To verify, install new software in "eval" mode, click activate and observe that it will automatically grab licenses out of your account.