How to generate application password?

I’m trying to connect a mail client and like to generate app password specific for this client, but I couldn’t find where to generate such password.
Is it even possible?

Thank you

No it is not possible. Only webmail does 2FA but thats just for webmail itself. Native clients using IMAP/POP3 use disroot credentials. Global two factor is something we are look into but that most certainly won’t happen soon (probably on roadmap for next year).