A password scheme is provided that can be used for security of cable modems in a cable network. In the system, the password is unique to each modem, the password is not fixed for the life of the device, is not shared across cable systems, is easily recoverable after a compromise, and is changed periodically based on some type of configuration. In the system each modem creates its own random password. Then the modem encrypts the password using a public key provided by the cable system and stores the encrypted password in a Management Information Base (MIB) operated by the cable system. The MIB operator decrypts the encrypted password corresponding to the public key and recovers the password. The cable operator uses the password to log in remotely to the modem. If a compromise or change of the public key or password occurs, the password is regenerated using the same procedure.