We have use cases for updating XML credential files for PowerShell scripts.
Utilizing the Run Arbitrary Process to Find/Update Credentials, I've found I can run a script with the parameters from RED IM to re-create the .XML file with the required password. However, the credential is available in clear text in the log file of the job. The password needs to be obfuscated to cut down on a risk of credential exposure.
If I use the %NewPassword% argument in the Command Line Parameters, it will show the command in the log file of the job. As a security tool, it shouldn't disclose the password in clear text.