ORA-13009: the specified date string is invalid
Cause : The specified date string has a bad component or does not match the specified format string.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Make sure that the components of the date string are valid and that the date and format strings match.
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.