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I got the following error

"There was an error encrypting or decrypting credentials. Either a credential update is currently being performed, or you must update the farm account credentials on this server before you can perform this task."

I tried running 

stsadm –o updatefarmcredentials –userlogin username –password password

but both the command prompt and powershell gives above error. I have even tried changing passwords in services and IIS Manager but nothing worked.

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1 Answer

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There is a WSS 3.0 hotfix for that. It's a known bug. It's the 3rd to last bullet.

http://support.microsoft.com/kb/957691

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Hi Mike, when I tried to run the hotfix, it says "There are no products affected by this package installed on this system" – shreyas Aug 13 '12 at 22:56
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I got the solution. here it is sharepointspecialist.wordpress.com/2012/07/02/22 – shreyas Aug 16 '12 at 18:54

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