There are 2 types of passwords: one that is set on the MDB file it self and one that is used for the person signing on. The one set on the MDB it self does not prevent someone else from using Access - only the MDB in question. You can easily crackthis password if the MDB is not encrypted.
If the password in question is for a user account, then make a back-up copy of the System.Mdw file which hasn't had any accounts, permissions or passwords set except the ones you specify, and put a password yourself on the admin account. When the kids play with the passwords and you want to put things back to normal, just delete the System.Mdw and restore it with your back-up copy. This process could be automated on a daily, or whatever, basis. Again, the only problem would be for permissions set for a certain Mdb.
One other thing you could do is set the password and permissions yourself for the Admin account, revoke admin permissions for the User account (admin rights), set up user accounts for each of the kids under a seperate group account with-out admin rights, and allow them on to sign-on with this account only, then the kids cannot hurt anything except their own account. Doing this and creating a back-up will solve alot of trouble. When the person leaves the class for good, just recopy the System.mdw to his/her PC or delete the user account.