It Didnt work, but I do have resolved the issue:
You can try the following from command line:
* Cd D:\Program Files\Symantec Endpoint Encryption\Device Control\Management Server\bin>
To sync the password type the command and your new password below:
* SPAdmin.exe /dbinfoview dbinfo.xml Password=yournewpassword
Note: yournewpassword = your updated password. Please reboot your machine after the change.
and now it's working!