Topic: email activation for new users

Is there any mod for activating new user registrations through email?

What i actually need is that when a new user registers to punbb forum,
he will receive an email containing his username, password and a link to activate his account.
the account will not get activated unless this activation link is clicked.

Please keep in mind that im using 1.2.20

Web developer (php/.net) Hardcore gamer :D