Create a user with webservice authentication programmatically

What is the correct way for creating a user with a webservice authentication programatically?

I've found the create_user_record. Is this enough?

Isn't password irrelevant for a user with webservice authentication?

Are there other fields that are mandatory and when missing might create issues? For example, it seems that in some places the user is presented by firstname + lastname and not username so when only using create_user_record, it'll show as blank string.

create_user_record($username, $password, 'webservice');

Thanks