You can create user defined function as below and call that function in your query to mask the data.
create or replace function scrubbing(word in varchar2)
return varchar2
as
each_var char(2);
final_val varchar2(100);
complete_data varchar2(4000);
each_word varchar2(1000);
cursor val is select substr(replace(word,' ','#'),-level,1) from dual connect by level<=length(word);
begin
open val;
--final_val:= '';
loop
fetch val into each_var;
exit when val%NOTFOUND;
--dbms_output.put_line(each_var);
final_val := trim(final_val)||trim(each_var);
--dbms_output.put_line(final_val);
select regexp_substr(final_val,'[A-Za-z]+') into each_word from dual;
select replace(translate(final_val,each_word,dbms_random.string('L',length(word))),'#',' ') into complete_data from dual;
end loop;
return complete_data;
end;