ORA-12497: maximum combined categories exceeds string
Cause : The maximum number of descriptive categories plus release categories supported by the MLS policy was exceeded.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Enter numbers that do not add up to more than the maximum.
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.