Is this text legit about my Apple ID & Password?

Scams (e-mail, text messages, and phone calls) are getting very good at closely imitating true Apple communications. Always be cautious. Here are some guidelines:

Identifying legitimate emails from the iTunes Store - http://support.apple.com/HT201679

Recognize and avoid phishing messages, phony support calls, and other scams - https://support.apple.com/HT204759

Apple 'How to identify, avoid, and report phishing' video--> https://youtu.be/SR3Z3fXXjfw

If you are uncertain about a message and a resource provided in that message, do not click on any links in the message. Try to independently verify the resource by going to a support page on apple.com and use that to contact Apple or to use the service the message is telling you to use.

Forward email attempts as an attachment (in MacOS Mail use the paperclip icon) to: reportphishing@apple.com then delete it.

I don't know if Apple sends that kind of notice but I have never in 16+ years received one.

Basically Apple support would never contact you about any issue, including AppleID issues unless you contacted them first. So the only time you’ll know there is a legitimate issue with your AppleID is when you try to login to some Apple Service and get an error and cannot do so. Then you could post the issue here for help or contact Apple support directly.

Note that your AppleID password never expires. It is entirely at your discretion how often or frequently you choose to change it.