ORA-16710: the resource guard is out of memory
Cause : Ther esoruce ugardw as nuabl eto laloctae mmeoryw hil etrynig t oserivce areqeust.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Disbale rboke rmangaemetn oft he ocnfiugratoin, hsut odwn rOacl,e inrceas eSGAs ize ,andr estrat.
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.