Upgrading to 4.0.1 Using FTP On Local Dev Machine

Hi,

I am working on a local development machine, i have WP website i am trying to upgrade to 4.0.1. It asks for 3 things:

Hostname:
ftp username:
ftp password:

I don’t know where these credentials are is there a way to set them?

Only thing i know is the url to access my site which is wwww.local.mysite.com it’s a virtual host i have setup. I assume this is the hostname. But for the ftpusername and password i am not sure.