The variable ORA-PASSWD should be set to the password assigned to the database account associated with the user name specified by ORA-LOGIN.
Example
For example, if the account with the user name has the associated password CW021535, you would specify:
ORA-PASSWD CW021535
in the configuration file or the environment.
If ORA-LOGIN has not been set, the runtime assumes you want to do an automatic login; ORA-PASSWD is ignored and need not (and for system security, should not) be set.
See also
ORA-LOGIN configuration variable.