Comment 27 for bug 162710

This is not trivial because nobody has found out where's the real problem. A paper cut must have a clear and simple solution.

AFAIK, our /etc/pam.d/passwd file is right as it includes the line
password optional pam_gnome_keyring.so

So the problem is elsewhere. Please note that you should not use the "default" keyring, contrary to what is told in the bug description: only the "login" keyring is unlocked on login. Also, you must not have changed your password using users-admin in versions older than the final Karmic one. Else that won't work. Can you confirm that's the case on your systems?

And yes, you can change your keyring password manually: see https://bugzilla.gnome.org/show_bug.cgi?id=338088#c30