OK...so I've been slacking on the brainteasers, so here's an easy one to start off the new year!

John works as a secret agent for the CIA. As such, security is and privacy is a top priority. On February 29, he arrived at work only to discover that he couldn’t log on to his computer...his password wasn’t working. Then he realized that passwords are updated and reset automatically for security purposes every month. He immediately contacted Bob, their IT expert. Here’s their conversation:
John - “Hey Bob, my password is out of date. I need a new one for this month.”
Bob - “Yes John, you’re right. You’re password is different, but if you listen carefully to me now, then you should be able to figure out the new one for this month: It has the same amount of letters as your old password, but only 4 of the letters are the same.”
John - “Thanks Bob!”

With that, John went to his office and correctly logged onto his computer.
What was the new password?

Bonus: What was his old password?