Replace a value in a .py file with sed failing - BASH

Question

I am working on a bash script to update passwords in a config file.

• The configuration file, settings.py, is a python file
• The password in the file is a variable, that looks like this:

TEST_PASSWORD = 'SomeValue'

What I need to do is enter in a command into the Linux terminal to scan into that file, and replace 'SomeValue' with what I enter.

I imagine some pseudocode would look like:

update_password(){
    echo "What do you want to update the password to?"
    new_pass = -> Read in user value into

    -> update settings.py and change:
    TEST_PASSWORD = 'SomeValue'
    to
    TEST_PASSWORD = "'" + new_pass + "'"
}

(it must be enclosed as a string in the settings.py file)

So far, I have tried a one-liner:

sed -i 's/TEST_PASSWORD = 'test'/TEST_PASSWORD = 'new_val'/g' test/settings.py

and nothing happens. As in, the file doesn't change at all. (referenced from here)

The complete program looks like:

#!/bin/bash

read -p "Enter a password: " password

echo "Got password"
echo " "

sed -i 's/TEST_PASSWORD = / TEST_PASSWORD = $password/g' test/settings.py

But in settings.py, it changes:

TEST_PASSWORD = 'test' to TEST_PASSWORD = $password'test'

How can I change the value of the TEST_PASSWORD in settings.py to the value that the user enters, without knowing what the current password is?

For Reference: awk -F= '/^NAME/{print $2}' /etc/os-release yields: "Red Hat Enterprise Linux Server"