ORA-29523: authorization error for unknown referenced name
Cause : An attempt was made to resolve a class that is not authorized to use a referenced class. The name of the referenced class could not be determined.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Adjust authorizations or name resolution.
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.