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How to generate ERC-20/xxx token addresses, from which I can receive/send corresponding tokens? How can I do this using web3j?

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Normal Ethereum addresses work for all ERC-20, ERC-721, and other Ethereum Based Tokens.

These tokens actually live as a part of a token contract, for example look at the Basic Attention Token (BAT) contract:

https://etherscan.io/address/0x0d8775f648430679a709e98d2b0cb6250d2887ef#code

This means that interacting with these tokens (sending, getting balance of, etc...) is as simple as calling the corresponding functions in this contract.

Maybe start here: Send Custom ERC20 Tokens from one Address to another

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