Since WordPress 5.6, you can now create Application Passwords that can be used to make authenticated requests to various WordPress APIs. Here is a quick guide on how to generate an Application Password from your WordPress dashboard.
Navigate to the “Users” page
Next, locate the particular user you want to generate the Application Password for and click on “Edit”
On the “Edit” page, scroll down to the “Application Passwords” section. Here you will need to enter a name for the Application Password, then click on the “Add New Application Password” button below to create the password
Once the password is generated, it will be displayed for you to copy.