Yeah. Check out the
Very basic implementation:
$UserPrincipalName = Read-Host "Enter the UserPrincipalName"
$Password = Read-Host "Enter the new password"
Set-MsolUserPassword -UserPrincipalName "$UserPrincipalName" -NewPassword "$Password"
Send-MailMessage -To "$UserPrincipalName" -From "ENTER YOUR EMAIL HERE" -Subject "Password Reset" -Body "I have reset your password. Your new password is:`n`n$Password"
The authentication against the sender field is by default authenticated against the current user. If that doesn't work for you you can use the -Credential parameter.
I would also recommend randomizing each password. Whether that be from an online tool then pasted into PowerShell or done right in PowerShell it doesn't matter but I would make it a priority.