Well, you could use a pseudo-random number generator, and a script such as:
mt_srand((double)microtime() * 1000000);
$charlist = "qwertyuiopasdfghjklzxcvbnm1234567890";
$newpass = '';
$max = strlen($charlist) - 1;
for ($i = 0; $i < 16; $i++) {
$randnum = mt_rand(0, $max);
$newpass .= $charlist{$randnum};
}
though of course you could change the various parameters