I have a couple of VMs that require a password to unlock. On PD12, both aren't accepting the password. And I'm sure it's the correct one. Downgrading to PD11 made the VMs work again.
Hi @Guzz_1984 Have you tried uninstalling(use PDRemove.zip) and reinstalling Parallels Desktop 12 for Mac ? If so and still the issue persists, please generate a Problem Report ID, we'll check and help you out.