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You've changed the password on Accounts in Sourcetree.
You've changed the password on the Repo within Sourcetree.
You've removed all Accounts and password for repo from Sourcetree.
Turns out, Sourcetree stores the password in a file that doesn't get updated.
It's based on username@server.
The only way to fix/change/reset this, is to delete the file. Removing all credentials within the Sourcetree interface does not help. Changing the password does not help.
The file must be deleted.
This is rather inconvenient for persons and organizations that change their password on a regular bases. This should be considered a work around or hack.
Remove the file "passwd" under location.
Path Shortcut:: %userprofile%\AppData\Local\Atlassian\SourceTree
If you're a macOS you can find the password files per repo it in
For Wrong Username, look in the location.
I'd like to thank @David Keck for providing the answer.