Unable to authenticate with the user and password information given for
NTLM authentication is set to deny all (is not allowed) in the domain via Group Policy or GPO.
Workaround
Review the Domain Policy or Local Policy
1) Review the Local Computer Policy, Domain Policy, GPO Policy, or Default Domain Policy for Restrict NTLM.
Group Policy Editor (Gpedit.msc)
Computer Configuration --> Policies --> Windows Settings --> Security Settings --> Local Policies --> Security Options
Network Security : Restrict NTLM : NTLM authentication in this domain
If the Security Options is set to Deny All or any other value, set it to "Disabled".
Refresh the Domain or Local Policy
2) Restart the Backup Exec installation and it should pass the authentication screen. Complete the installation and set the above setting to its initial value.
Note: To know more about the combinations of the above policy policies, refer Microsoft documentation.