Each account needs its own password. Each password must be attached to a single account (but you can have multiple accounts use the same password if desired).
If you are talking about using a central authority like AD then you only need one target application for many devices, but each account will still need to be listed.
If you are saying that you have an application with no real username, but multiple acceptable passwords then I would suggest adding multiple accounts named something like "Password1" "Password2", this way your users would know its a password not an account.
If you better explain your exact use case I may be able to help better.
Regards,
Christian Lutz
Support Engineer
CA Technologies - North America