1) On the server that hosts the Central Administration Web site, type the following line at the command prompt,
and then press ENTER:
stsadm -o updatefarmcredentials -userlogin DomainName\UserName -password NewPassword

2) Verify that the Administration Application Pool Credential Deployment job definition is no longer displayed on the Timer Job Definitions page of SharePoint 3.0 Central Administration. To do this, follow these steps:
Open SharePoint 3.0 Central Administration
click Operations, and then click Timer job definitions under Global Configuration.
Verify that the Administration Application Pool Credential Deployment job definition is no longer displayed in the list.

3) Update the password for the application pool account that is used by Web applications on the server farm.
stsadm -o updateaccountpassword -userlogin DomainName\UserName -password NewPassword -noadmin

4) Update the password for the account that is used to run the Windows SharePoint Services Help Search service
stsadm.exe -o spsearch -farmserviceaccount DomainName\UserName -farmservicepassword NewPassword

5) Update the password for the default content access account that is used by the Windows SharePoint Services Help Search service
stsadm.exe -o spsearch -farmcontentaccessaccount DomainName\UserName -farmcontentaccesspassword NewPassword

After this I was able to create SSP successfully