And, this exists.

The PCman’s FREE Cover Letter Creator
We have several different letters that contain generalized body text that you can personalize for your situation. Please edit the letter in the box below, to personalize your letter replace the capitalized place holders with your info.
TIP: Keep the letter short and to the point, the reader will get the bulk of your information from your resume, your cover letter is designed to draw them in. They will be eager to read your resume and find out more about your skills and achievements.

I’m not even linking to this because I don’t want this person to get the traffic. It’s that bad. Look at what one of the templates looks like:

INTERVIEWERS NAME
INTERVIEWERS POSITION
COMPANYNAME
STREET ADDRESS HERE
CITY, STATE ZIPCODE

Dear INTERVIEWERNAME:

I learned about the POSITION position
through the RESOURCE at PLACE. Currently I am a/an/the JOBDESCRIPTION at COMPANYNAME.
I am interested in your company and in the POSITION position.

I have substantial background in SUBJECT which will lend itself well to the POSITION position.
At my current job, I ACCOMPLISHMENT. Some of the skills that were needed to accomplish
that project included SKILL1, SKILL2, and SKILL3. I believe that all of these attributes
combined make me the best candidate for the job at your company.

My solid academic foundation in SUBJECT, along with my passion and enthusiasm for SUBJECT,
makes me able to contribute a great deal to COMPANYNAME. I look forward to meeting
with you for an interview. Thank you for your time and consideration.

Sincerely,

YOURNAME

This is awful on so many levels it’s almost not worth picking apart, but I will: It is boring, poorly written, and generic. (Swapping one word out for another does not equal customizing a cover letter.) It is all about you rather than all about them, and it doesn’t actually say anything that proves you know anything about the company or even the job.

Don’t use a template generator.