Thanks for your reply.
I tried the following things but I am getting the same exceptions as mentioned above and server log is also same "Bad Password"
1. Disabled encrypting of passwords by removing the below two lines from standalone.xml
<module-option name="hashAlgorithm" value="SHA-256"/>
<module-option name="hashEncoding" value="base64"/>
Updated the password in database table to plain text
Ran the application appliaction.
2. Tried with blank password, result is same.