Use create encryption key to associate a password with a key.
create encryption key [[db.][owner].]keyname [as default] [for algorithm_name] [with {[keylength num_bits] [passwd 'password_phrase'] [init_vector {NULL | random}] [pad {NULL | random}]}]
where password_phrase is a quoted alphanumeric string of up to 255 bytes in length that SAP ASE uses to generate thekey encryption key (KEK).
SAP ASE does not save the user-specified password. It saves a string of validating bytes known as the “salt” in sysencryptkeys.eksalt, which allows SAP ASE to recognize whether a password used on a subsequent encryption or decryption operation is legitimate for a key. You must supply the password to SAP ASE before you can access any column encrypted by keyname.
When you create an encryption key, its entry in the sysencryptkeys table is known as the base key. For some users and applications, the base key, encrypted by either the master key, the system encryption password, or an explicit password, is sufficient. Any explicit password is shared among users requiring access to the key. Additionally, you can create key copies for different users and applications. Each key copy can be encrypted by an individual password and is stored as a separate row in sysencryptkeys. An encryption key is always represented by one base key and zero or more key copies.
create encryption key key1 with passwd 'Worlds1Biggest6Secret'
“razi” distributes the password to all users who need access to encrypted data.
set encryption passwd 'Worlds1Biggest6Secret' for key razi.key1
If the key is compromised because an unauthorized user gained access to the password, “razi” alters the key to change the password.