Workaround

A) Temporarily disable FIPS on the server using Windows Policy

OR

B) Registry Method to temporarily disable FIPS to perform the Backup Exec installation.

Warning: Incorrect use of the Windows registry editor may prevent the operating system from functioning properly. Great care should be taken when making changes to a Windows registry. Registry modifications should only be carried-out by persons experienced in the use of the registry editor application. It is recommended that a complete backup of the registry and workstation be made prior to making any registry changes.

Change the FIPSAlgorithmPolicy Registry key to 0 to disable FIPS to perform the installation.

A value of 1 indicates FIPS is enabled. 
A value of 0 indicates FIPS is disabled.

HKLM\System\CurrentControlSet\Control\Lsa\FIPSAlgorithmPolicy\Enabled        Windows 2008/2008 R2

HKLM\System\CurrentControlSet\Control\Lsa\FIPSAlgorithmPolicy                       Windows 2003/XP

Reference: Microsoft : 811833

NOTE: After the installation is complete enable FIPS.

Symantec Corporation has acknowledged that the above-mentioned issue is present in the current version(s) of the product(s) mentioned in this article. Symantec Corporation is committed to product quality and satisfied customers.
 
There are no plans to address this issue by way of a patch or hotfix in the current or previous versions of the software at the present time. However, the issue is currently scheduled to be addressed in the next major revision of the product. Please be sure to refer back to this document periodically as any changes to the status of the defect will be reflected here.  Please note that Symantec Corporation reserves the right to remove any fix from the targeted release if it does not pass quality assurance tests.  Symantec's plans are subject to change and any action taken by you based on the above information or your reliance upon the above information is made at your own risk.