This error occurs because the Excel workbook is password-protected. When a file is secured with a password, the system cannot access or open it during the import process, which prevents the data from being imported. To solve this issue:
Open the Excel workbook you want to import.
Go to File, Info.
Click Protect Workbook and select Encrypt with Password (or a similar password protection option).
Remove the password by clearing the password field and clicking OK.
Save the workbook.
Try to import the Excel file again.
After removing the password protection, the file should import successfully.