If I go to an existing DB Link in the Schema Browser and right-click | Create Script, the generated DDL script has a line "IDENTIFIED BY <PWD>" where the <PWD> is a literal and not the actual password to the database and it cannot be ran as is as a script. Running the DDL Script as is will cause the error:
For security reasons, the password has been removed to protect the password of the database.
RESOLUTION:
The <PWD> portion of the IDENTIFY BY clause needs to be manually replaced with the actual password in double-quotes (“password1”) by the user who has the permission to know the password of the DB Link.