App Store says my password is incorrect when I know it's not.

I really hope someone can help as I have a new iphone and can't download any paid apps. so can't really use my iphone to its potential.
Whenever I try to buy an app that costs it asks to verify my purchase, i have the choice to cancel or continue. I press continue and it asks for my password. I type this in and it keeps asking for it over and over again. After around 5 times it then tells me that my password is incorrect even though I know that it is correct. How do i fix this??

If you have Restricted your MAIN account in the perental controls that may be the reason. You may have to create a new Administrators account to change the settings on the parent controls.
Not sure as I have never used that feature on any computer I own.

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