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Default Change passwords on fly

Using Office 2003 and Windows XP;

Is it possible to code a workbook to alter or change its sheet, workbook,
and module protection passwords on the fly? I would like to tie the change
trigger to the workbook's Open event.

I already know about the weaknesses involved in using Office passwords; this
is just an extra measure to go one step further to prevent prying eyes and
mistakes;

Example VBA would be most appreciated.