VMS Help SET, PASSWORD, Qualifiers, /GENERATE  *Conan The Librarian (sorry for the slow response - running on an old VAX)

       /GENERATE[=value]

    Generates a list of five random passwords. Press Return to repeat
    the procedure until a suitable password appears.

    Value is a number from 1 to 10 that restricts the length of the
    password. For any value n, the SET PASSWORD command generates
    passwords of from n to (n+2) characters long.

    If no value is specified, SET PASSWORD uses a default value of
    6, and generates passwords from 6 to 8 characters long. Values
    greater than 10 are not accepted and produce errors.

    If your system manager has established a minimum password length
    for your account, SET PASSWORD/GENERATE=n compares that length
    with the optional value specified with the /GENERATE qualifier,
    and uses the larger of the two values. If you do not specify a
    value with the /GENERATE qualifier, the account minimum length is
    used.

                                   NOTE

       If the SET PASSWORD/GENERATE command fails to work properly,
       consult your system manager to be sure that either the file
       SYS$LIBRARY:VMS$PASSWORD_DICTIONARY.DATA exists, or the
       logical name VMS$PASSWORD_DICTIONARY is correctly defined.