jrockfl - 11:48 am on Feb 13, 2013 (gmt 0)

You could randomly generate a password for them and then just email it to them.

First Name: John
Last Name: Doe
Email: johm.doe@gmail.com

After they submit the form, you would have a function that would randomly create the password.
You would persist the password and then send them an email thanking them for signing up and include the password :)