Could not authenticate your SMTP account

Versions:
WordPress: 6.2.2
WordPress MS: No
PHP: 8.0.25
WP Mail SMTP: 3.8.0

Params:
Mailer: smtp
Constants: No
ErrorInfo: SMTP Error: Could not authenticate.
Host: mail.privateemail.com
Port: 465
SMTPSecure: ssl
SMTPAutoTLS: bool(true)
SMTPAuth: bool(true)

Server:
OpenSSL: OpenSSL 1.1.1s  1 Nov 2022

Debug:
Email Source: WP Mail SMTP
Mailer: Other SMTP
SMTP Error: Could not authenticate.

SMTP Debug:

2023-07-13 12:23:14 Connection: opening to ssl://mail.privateemail.com:465, timeout=300, options=array()

2023-07-13 12:23:14 Connection: opened

2023-07-13 12:23:14 SERVER -> CLIENT: 220 PrivateEmail.com prod Mail Node

2023-07-13 12:23:14 CLIENT -> SERVER: EHLO actionfitnesshealthclubs.com

2023-07-13 12:23:14 SERVER -> CLIENT: 250-mta-07.privateemail.com250-PIPELINING250-SIZE 81788928250-ETRN250-AUTH PLAIN LOGIN250-ENHANCEDSTATUSCODES250-8BITMIME250 CHUNKING

2023-07-13 12:23:14 CLIENT -> SERVER: AUTH LOGIN

2023-07-13 12:23:14 SERVER -> CLIENT: 334 VXNlcm5hbWU6

2023-07-13 12:23:14 CLIENT -> SERVER: [credentials hidden]

2023-07-13 12:23:14 SERVER -> CLIENT: 334 UGFzc3dvcmQ6

2023-07-13 12:23:14 CLIENT -> SERVER: [credentials hidden]

2023-07-13 12:23:16 SERVER -> CLIENT: 535 5.7.8 Error: authentication failed: UGFzc3dvcmQ6

2023-07-13 12:23:16 SMTP ERROR: Password command failed: 535 5.7.8 Error: authentication failed: UGFzc3dvcmQ6

SMTP Error: Could not authenticate.

2023-07-13 12:23:16 CLIENT -> SERVER: QUIT

2023-07-13 12:23:16 SERVER -> CLIENT: 221 2.0.0 Bye

2023-07-13 12:23:16 Connection: closed

SMTP Error: Could not authenticate.

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