Adding to what said: ESXi does temporarily block your access for the given account if you're failing to authenticate too often. I believe after 3 or 5 attempts it will block the account for 15 minutes or so.
I've seen it more than once that there're monitoring systems or other automated solutions doing automated logins via API/SSH with wrong passwords, essentially repeatedly causing the account to be blocked.
If that's not the case here, I'd say the credentials are indeed wrong and you might need to either use vCenter to reset the password or to re-install ESXi to set up a new password.