Why I get "FATAL: password authentication failed for user postgres

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I set up docker image for and a timescaledb postgres database.

The tutorial states to run "docker run -d --name timescaledb -p 5432:5432 -e POSTGRES_PASSWORD=password timescale/timescaledb:2.0.0-pg12" for initial local setup.

I am trying to connect the database to a tableplus GUI which asks for Connection Name, Host, Port, User and Password. From the timescale tutorial above I have entered- Name: timescaledb Host: localhost Port: 5432 User: postgres Password: password

I am receiving "FATAL: password authentication failed for user postgres" when trying to connect. Any assistance would be appreciated. TablePlus Error

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