Another option might be to decompile the application program and look for the password. I don't know who in their right mind would hard code a password into program code, but it kind of sounds like that is what happened here? Alternatively, if it is an internally-developed app, do you have access to the source code?
If that is what happened, and you have the ability to recompile the app, use the keyring (Mac, Linux) or DPAPI (Windows) to securely (as much as possible) store an encrypted instance of the password outside the application code. You'll be able to change it, and some random person who manages to hack in and get access to the source code or binary won't be able to inspect the program like I'm suggesting you try.
I also realize this is an old post and you've either solved the problem or moved on by now. ;-)