I have set passwords (from Dev Console) for around 50 users in my org, however when they login they are being redirected to reset password page. I want them to be able to directly login into SFDC with the new password i set, how can i make them bypass the reset password page?
This is by design in Salesforce - the System Administrator is not meant to know user passwords so even if you set the password for the user using the Developer Console it will still prompt them to change that password that has been entered.
So you will not be able to avoid the users being sent to the change password page.
This is Working as Designed (WAD) in salesforce. If you hit enter you are actually hitting the 'cancel' button. The "Save" button doesn't get enabled until the requirements for the page are met (value entered for current password, matching & valid new & confirm passwords and/or a value for the security answer). The password of the user has not been changed.