Please see the following link:
In addition, also see note:
FNDCPASS Troubleshooting Guide For Login and Changing Applications Passwords [ID 1306938.1]
Issue resolved I was using repeated word in my password (clpnADMdev11). I have removed one "1" (clpnADMdev1) then it worked fine.
This is most likely because of "Signon Password Hard To Guess" profile option.
Can "Signon Password Hard To Guess" Allow Repeated Characters ? (Doc ID 1533614.1)