Presently, the process of choosing an element and providing a unique identification to the element is done manually. Along with the element identification the mapped objects are shown in a unreadable...
I agree with tristaanogre. You can use some of the automated features to get going, but you really need to adjust the mapping for your particular usage and nomenclature.
"pageEmailaccountinfo" may be unreadable for you, but I know my product field names well enough that I can use that just fine. How would TestComplete know what everyone considers readable? And in all the different languages that we use? Remember that TestComplete is a generic tool that's used in many different environments and for many different products. It needs to be very flexible to accommodate all of us.
Fortunately, you'll probably only have to do a large mapping once on a particular application. After that you'll only need a few changes here and there.