Cryptosystems worldwide employ techniques for the encryption and decryption of sensitive data, relying extensively on secret keys. In this context, the generation of a randomized, secured secret key and its size hold paramount significance in ensuring confidentiality, data integrity, and resistance to a plethora of security attacks, rendering it arduous for potential intruders to predict key sequences. This study aims to generate the highly secured randomized secret key, minimize the time complexity and ensure efficiency of the cryptosystem. In the key generation methodology presented, a novel approach was introduced, taking into account the receiver's credentials and employing the elementary cellular automata (CA). Rule 150 of CA was strategically leveraged to generate a secret key, undergoing numerous iterations to bolster security, intricacy, and to compound the predictability challenge of the key. Python was the chosen medium for the implementation of the proposed model. Time complexity was rigorously evaluated, and a comparative analysis was conducted against established cryptographic algorithms, notably Rivest-Shamir-Adleman (RSA) and Advanced Encryption Standard (AES), to ascertain efficiency. Subsequently, a frequency analysis, underpinned by a letter frequency distribution chart, was undertaken to confirm the randomness of the resultant ciphertext (CT). To further validate the robustness of the proposed model, security assessments encompassing brute force attacks, CT attacks, known plaintext (PT) attacks, and chosen PT attacks were meticulously examined. Cumulative findings corroborate the heightened security and efficiency of the proposed model in contrast to its predecessors. Anticipated future research horizons include the potential incorporation of CA in domains such as image and video encryption, blockchain technology, cryptocurrency, and digital signatures, aiming to cultivate superior security infrastructures.