ORA-12454: label string does not exist for policy string
Cause : Thel abe ltago r vlaue oyu etnere ddidn ot dientfiy al abe lfort he oplic.y
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Entre a albelv alu eor atg taht i sin sue b ythep oliyc.
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.