"wrong password" may appear if the user is not allowed to log in from used IP.
Thanks for the idea, I checked: no IP limitations.
Actually I have more details about the issue: Looks like the error is appear because wrong "next-hop" settings on neighbor router:
The "next-hop" is pointed to the other mikrotik with old version and traffic is "in and out" back to the same interface when go to the affected router.
I changed "next-hop" to new mikrotik with modern version and issue "wrong password" is gone.
I think the problem is some how related to the modification of the winbox packets going via interim router