ORA-28353: failed to open wallet
Cause : The database was unable to open the security module wallet due to an incorrect wallet path or password It is also possible that a wallet has not been created. Type mkwallet from command line for instructions.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Execute the command again using the correct wallet password or verfying a wallet exists in the specified directory. If necessary, create a new wallet and initialize it.
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.