Password Manager does not generate a long random password. The Password manager application is like a bank for storing your login details for the web page that you save on it.
If you will be leaving Trend Micro, then the passcards that you have created is still associated with your Trend Micro account. So once you sign-in again with the password manager the passcards saved can still be accessed. However, if you will be deleting the passcards saved with your Trend Micro account, then they will be deleted as well.
May I know what do you mean by start over?
We hope to hear from you soon and this answer some of your inquiries.