Final answer:
To replace characters in a password string that are not alphabetic characters or numbers with 'y': iterate through each character, check if it's alphabetic or a number, and replace if necessary.
Step-by-step explanation:
In order to replace characters in a password string that are not alphabetic characters or numbers with 'y', you can iterate through each character in the string and check if it is an alphabetic character or a number using the isalnum() function from the cctype library.
If the character is not an alphabetic character or a number, you can replace it with 'y'. Finally, you can output the updated password string.