The Eclipse PVCS VM RIDE | Import Project from Version Manager operation provides the option to setup Issue integration with SBM (TeamTrack). When this is used, the username and password of the SBM user are preserved in the Eclipse Workspace.
If the password of the SBM user changes, the PVCS VM RIDE Issues view stops working with a message similar to:
Error running the selected report (Invalid user)
To update the password in the RIDE Integration, follow the instructions from KB doc S143617.