readable-pass-generator.php

<?php

function readable_pass() {
    $vowels = 'aeiou';
    $consonants = 'bcdfghjklmnpqrstvwxyz';

    $result = null;

    for($i = 0; $i < 10; $i++) {
        if($i % 2)
            $result .= substr(str_shuffle($consonants), 0, 1);
        else
            $result .= substr(str_shuffle($vowels), 0, 1);
    }

    return $result;
}

echo readable_pass();
// eg: iterofuweq