Comment 39 for bug 473139

I hit this (or very similar) problem on 2 machines, after i have been using & storing password in gnome-keyring

I think my problem is because i changed password on the user using the "passwd" command,
and it is not updating the gnome-keyring. So the gnome-keyring still requires me to enter the "old" password, which is working correctly. I suppose my problem could have been avoided by using some gnome UI tool to change user password.