ORA-12810: PARALLEL_MAX_SERVERS must be less than or equal to string
Cause : An attempt was made to set the PARALLEL_MAX_SERVERS parameter to a value higher than the maximum allowed by the system.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Set PARALLEL_MAX_SERVERS to a value less than or equal to the maximum specified in the accompanying message and retry.
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.