ORA-28003: password verification for the specified password failed

Product:
Cognos Planning 10.1.1
Windows 2008 R2 server
Oracle database

Problem:
You can not create new Cognos Planning Applications from Cognos Administration Consolde (CAC) and get an error about the password.

{1F3E2C63-11E3-4091-917B-537CFAF5D155} 7 2014-08-18 18:49:20.449 UTC +120 EAdminUI_10 10.1.4074.0 MTSEAdminDB MTSCreateAndPopulateApplication 140 Oracle Automation 440 Unable to execute statement. 28003 ORA-28003: password verification for the specified password failed~ORA-20009: Password must contain at least one digit, one character~~~~~The SQL was:~~CREATE USER go_expenses_contributor IDENTIFIED BY PASSWORD DEFAULT TABLESPACE USERS TEMPORARY TABLESPACE TEMP QUOTA UNLIMITED ON USERS QUOTA UNLIMITED ON USERS QUOTA UNLIMITED ON USERS~~~~The Connect String was:~~Provider=OraOLEDB.Oracle;Data Source=servername.COM;User ID=PLANADM;Password=*********;~~~~SQL execution error, ORA-28003: password verification for the specified password failed~ORA-20009: Password must contain at least one digit, one character~

The issue is that the Oracle Database DBA have applied a strong password policy.
Possible Solution:
Change the default password used by Cognos Planning during creation of the Planning application schema.
Go to the Cognos Planning Admin server. Open the file C:\Program Files (x86)\ibm\cognos\c10\bin\ epEAdminORA8Resources.xml in notepad.
Change the row <![CDATA[CREATE USER %1 IDENTIFIED BY PASSWORD
DEFAULT TABLESPACE %4
TEMPORARY TABLESPACE %5
To a new row with a new password that contain a combination of a-z and numbers (0-9)
<![CDATA[CREATE USER %1 IDENTIFIED BY donaldduck747

Save the file. The new default password is now donaldduck747.
Log in to CAC again and test again.