Is it a good practice to use FNDCPASS ALLORACLE to change all Oracle schema passwords (other than A

It is our company password policy to change apps, applsys, and all other schema passwords every three months.  I have been using FNDCPASS ALLORACLE command to do it for a few years now. Yesterday, our NEW IT Manager questioned that it is NOT a good security practice to use/share the same password among 196 accounts/schemas (there are totally 196 schema other than apps & applsys in R12 EBS). That means I need to run FNDCPASS ORACLE 196 times for each schema with a different password each :-(

I cannot imagine I need to come up with 196 different passwords every 3 months and key them into our Password Management System. I am asking your help to provide your thoughts or how you manage the password in your Oracle EBS?