Error while creating web application in SharePoint 2013 : The password supplied with the username domainname\username was not correct.

Problem :

“The password supplied with the username .\Administrator was not correct. Verify that it was entered correctly and try again” Error while creating web application in SharePoint 2013

Solution:

I got that error while creating a new web application in SharePoint 2013. Actually recently we had changed the password of the administrator account. However we had to follow this extra step to get the things working properly.

Run the sharepoint powershell console as Administrator and run this command.

stsadm -o updatefarmcredentials -userlogin <domain\username> –password <newpassword>