ORA-01122: database file string failed verification check
Cause : The information in this file is inconsistent with information from the control file. See accompanying message for reason.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Make certain that the db files and control files are the correct files for this database.
Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.