ORA-12599: TNS:cryptographic checksum mismatch
Cause : The data received is not the same as the data sent.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Attempt the transaction again. If error persists, check (and correct) the integrity of your physical connection.
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.