ORA-28003: password verification for the specified password failed

SQL> create user xyz identified by xxx;
create user xyz identified by xxx profile system
*
ERROR at line 1:
ORA-28003: password verification for the specified password failed
ORA-20002: Password same as or similar to user


SQL>select profile, resource_name, limit from dba_profiles where RESOURCE_NAME = 'PASSWORD_VERIFY_FUNCTION';
PROFILE                        RESOURCE_NAME                    LIMIT
------------------------------ -------------------------------- ----------------------------------------
DEFAULT                        PASSWORD_VERIFY_FUNCTION         VERIFY_FUNCTION_11G
MONITORING_PROFILE             PASSWORD_VERIFY_FUNCTION         VERIFY_FUNCTION_11G
SYSTEM                         PASSWORD_VERIFY_FUNCTION         VERIFY_FUNCTION_11G

SQL> alter profile system limit PASSWORD_VERIFY_FUNCTION null;

Profile altered.

SQL> create user xyz identified by xxxx ;

User created.

SQL> alter profile system limit PASSWORD_VERIFY_FUNCTION VERIFY_FUNCTION_11G;

Profile altered.