in Delphi Ideas :: 
One method of generating a long password, without storing it anywhere is to select a file (either binary or text), do a little bit of processing on it then force the resulting values into the ASCII range 32-127 and output them as characters. Here's how to do it in Delphi.
Read the full article to learn how to Programmatically Generate Strong Passwords with Delphi
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Well written article which should be of great help in programming.