core/app/Console/Commands/ChangePassword.php

<?php

namespace App\Console\Commands;

use App\Models\User;
use Illuminate\Console\Command;
use Illuminate\Database\Eloquent\ModelNotFoundException;
use Illuminate\Support\Facades\Hash;

class ChangePassword extends Command
{
    /**
     * The name and signature of the console command.
     *
     * @var string
     */
    protected $signature = 'user:change-password {userID} {newPassword}';
    /**
     * The console command description.
     *
     * @var string
     */
    protected $description = 'Change password for user with given ID';

    /**
     * Execute the console command.
     *
     * @return mixed
     */
    public function handle()
    {
        $id = $this->argument('userID');
        $newPassword = $this->argument('newPassword');

        try {
            $user = User::findOrFail($id);
        } catch (ModelNotFoundException $e) {
            $this->error('Invalid user ID ' . $id . '. Please see table `users` for correct IDs.');
            exit(1);
        }

        // set new password
        $user->password = Hash::make($newPassword);
        $user->save();

        $this->info('Password successfully changed.');
    }
}