This password does not meet the length, complexity, age, or history requirements of your corporate password policy (Minimum Password Age)

We might get the below error even after specifying a new password having the appropriate length, complexity, age, etc.

If you are also facing the same, it could be because of the Minimum password age policy setting. It specifies the duration for which the password must be used before it can be changed. It could be a value between 1 and 998 days, also it can be set as 0, which means the password cannot be changed again immediately.

In our case also, we had changed the password and within a few minutes we again wanted to change it for some testing, that is where we got that issue. Finally, after 24 hours, we were able to do so.

The below article explains in detail about different Password Requirements and how they apply in the case of Azure AD.

https://www.linkedin.com/pulse/what-active-directory-azure-ad-password-requirements-valentin/

Hope it helps..