Daniel-
I guess I agree with the first two, but I hate the third. Sure, it would probably work on the stupider vandals, but I really hate getting a password like dk2SF84gsf5K in my email and then can't figure out how to change the password. That's why I don't use Kuro5hin.
I recently rewrote that part of Kuro5hin's codebase. The first time you log in, you are automatically put on the preferences page and can, among other things, set your password. Easy as pie.
Regards,
Erik