Register users and send them an email

Hi Guys,
Im working on a website that needs a special way of registration for the users. I need to be able to manually register users using their email address and then system sends a customized email including a token link and once they click on that link it will redirect them to the website, will activate their account, generate a password and show it to them.
Now the question: is there any plugin that can do this for me or is there any way to make WP work this way?