ORA-01031 INSUFFICIENT PRIVILEGES

When trying to connect to the database as sys from command prompt getting the below error

The issue is due to the password file got corrupted

Creating a new password file will resolve the issue

Back up the password file under ORACLE_HOME/database (PWDorcl.ora)

Create new password file with the command below:

Note: set the ORACLE_HOME, ORACLE_SID and PATH variables 

before running the below command

Try to connect again