Security :: Trying To Create A Password Generator?

I am trying to create a password generator which will do the following:

1) Generate a simpler password, than just completely random as this is what currently the Membership classes do if the above cannot be done then how can we kind of mimic the randomness but use a predefined list of perhaps common words?

2) if we have a Regex expression, is there any way a password can be generated randomly complying with that regex expression? (something extra to think about)