Ahhhh bummer! I wrote a moderately sized bio too, but I copied it to a Word doc before the creation failed for me too (was gonna make a savage).

That sounds like an awesome bio but I'm pretty sure that you can create 2 characters on a free account. It says so on the FAQ under character slots.

As Champions Online became free of charge I too downloaded it immediately, hastely created a character and started playing. Later I realised I had not experienced the character creator at all, so I decided to make an alternate one. After spending an entire hour meddling with the tools, I finally finished my ultimate superhero. Little Timmy Jackson, now known as I can't remember what, tried to take revenge on his father, Chocolate Jackson, a cookie enterpreneur, for abandoning Timmy and his mother when he was little. Unfortunately  Chocolate instead used his goons as help to destroy Timmy's physical appearance in sadistic pleasure. Realising that his obsession with vengeance had gotten him nowhere, Timmy now became a genetically enhanced superhero dedicated to helping the good. I wrote a long and detailed bio for him, taking another 15 minutes of my time. Then I finally click myself into the tutorial, and... "Character Creation Failed."

I could not do anything but stare at the screen and exit through the gift store.