Ruby (40 characters)
Interpret a string of a-z letters as a number in base 26, with a = 1, b = 2, ..., z = 26.
So "password" can be thought of as the number N =
16*(26**7) + 1*(26**6) + 19*(26**5) + 19*(26**4) + 23*(26**3) + 15*(26**2) + 18*(26**1) + 4*(26**0)
If we let s = "a" (that is: 1) and we make (N-1) calls to s.succ!, s will be "password" (N). In other words, N = 1 + (N-1).
For an example that will run more quickly, to prove the calculation of N is correct, consider "pass" as the target, where N is
16*(26**3) + 1*(26**2) + 19*(26**1) + 19*(26**0)
and
s = "a" (N-1).times { s.succ! } puts s #== "pass"
Since we want to print "a" too, we need
s = "`" N.times { print(s.succ! + " ") }
So back to the full "password". N = 129052722140, leaving:
s=?`;0x1e0c2443dc.times{$><<s.succ!+" "}
I hunted for a more compact form of 129052722140 == 0x1e0c2443db but couldn't find one.
(Updated to fix the lack of printing "a", thanks to Cary.)