Оформил: DeeCo
Автор: http://www.swissdelphicenter.ch

function RandomPassword(PLen: Integer): string;
 var
   str: string;
 begin
   Randomize;
   //string with all possible chars 
  str    := 'abcdefghijklmnopqrstuvwxyzABCDEFGHIJKLMNOPQRSTUVWXYZ';
   Result := '';
   repeat
     Result := Result + str[Random(Length(str)) + 1];
   until (Length(Result) = PLen)
 end;

 procedure TForm1.Button1Click(Sender: TObject);
 begin
   //generate a password with 10 chars 
  label1.Caption := RandomPassword(10);
 end;


 // Another function from ReNoiZer /=RNZ=/; renoizer@mail.ru 

function RandomWord(dictSize, lngStepSize, wordLen, minWordLen: Integer): string;
 begin
   Result := '';
   if (wordLen < minWordLen) and (minWordLen > 0) then
     wordLen := minWordLen
   else if (wordLen < 1) and (minWordLen < 1) then wordLen := 1;
   repeat
     Result := Result + Chr(Random(dictSize) + lngStepSize);
   until (Length(Result) = wordLen);
 end;

 procedure TForm1.Button2Click(Sender: TObject);
 begin
   //generate a password with 10 chars 
  Caption := RandomWord(33, 54, Random(12), 2);
 end;