How to change user password with wp-cli?

wp-cli is great. But it’s not clear how I can quickly change a user password with it.

How to change a user's password programatically can probably help to figure this out.

Although wp user update username --field=password is not gonna cut it, apparently md5 is deprecated so it should go through wp_set_password.

Solutions Collecting From Web of "How to change user password with wp-cli?"