ORA-01781: UNRECOVERABLE cannot be specified without AS SELECT
Cause : UNRECOVERABLE was specified in a CREATE TABLE statement without also specifying a populating subquery with an AS clause.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Do not specify UNRECOVERABLE.
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.