i don't think you'll find an existing product that does EXACTLY what you are after, but it's a trivial request to do via TSQL.
there's a zillion examples of random strings here on SSC
here's a handfull of examples:
you can script complex, random passwords yourself. you can change the logins to have those new passwords.
i'd just be lazy, and assign 36 character GUIDS as the passwords, with maybe a find/replace for a random character to make it extra scarey.
ALTER LOGIN [PlainOldTestUser] WITH PASSWORD = N'59D5F192-5633-4E2B-B216-314FA6DE65B6'
even better, you can disable all sql logins.
select CONVERT(varchar(40),newid()) As NewPassword,
RIGHT(master.dbo.fn_varbintohexstr(hashbytes('MD5',CAST(NEWID() AS VARCHAR(36)))),10) AS NewPassword2,
* from sys.server_principals where type_desc = 'SQL_LOGIN'
Lowell