Access to pse file &1 denied; wrong password / no credentials in system

What causes this issue?

Access to pse file &1 denied; wrong password / no credentials in
system

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

The application tried to access a pse-file with an invalid or an initial
password.
The password protection is getting active and interrupts the invalid
access.
The system stops the usage of the pse-file to create a digital
signature. A digital signature will not be created.

How to fix this error?

Check if the credentials are created right or if an unauthorized access
has happened.

Procedure for System Administrators

Check the created credentials of the pse-file.
Create valid credentials for the pse-file. Further details you get in
the SSF documentation.

Error message extract from SAP system. Copyright SAP SE.