You are entering the wrong password.

The default user created for a new db is admin and a password of your choosing.

Have you been able to log into the DB before? If not I would just delete the DB and start again fresh.

ya i deleted database and again i created new one but its shows message like "Password authentication failed for user 'admin'.." during installation of ERP 7 in window i provided Username: admin Password: mypwd but when i run in localhost then error is appear..so please help me i am not able to access localhost from 2 days...and i am new user in erp.