'Unable to connect with PostgreSQL with command line psql: error: connection to server at "localhost" (::1), port 5432 failed

I have been trying to connect with the newly created PostgreSQL database. But in the command line, it is showing

psql: error: connection to server at "localhost" (::1), port 5432 failed, FATAL: password authentication failed for user <user>

I am entering the right password but still having the issue

postgresql spring-boot

Solution 1:^[1]

Solved this issue:

In my case entered username was incorrect.

I checked installation_summary.txt file to know the username.

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Solution	Source
Solution 1