I have modified the code a bit to include itertools.permutations(guess) to get all the possible combination of that random guess and test against it. This will save some time.
from random import *
import itertools
guess = ""
password = input("Password: ")
letters = ["a", "b", "c", "d", "e", "f", "g", "h", "i", "j", "k", "l", "m", "n", "o", "p", "q", "r", "s", "t", "u", "v", "w", "x", "y", "z"]
while (guess != password):
guess = ""
perm = ""
for letter in password:
guessletter = letters[randint(0, 25)]
guess = str(guessletter) + str(guess)
perm = itertools.permutations(guess)
for p in perm:
guess = "".join(p)
print(" ",guess,end="\r")
print(f"Password guessed! ==> {guess}")
input("")