Login Failed with eWAY Recurring Payment Processor
We had the same issue when setting up recurring payments for the first time. This is how we resolved it. Note: This is for Australia only.


Login to MyeWay and create an API Key and password.
In CiviCRM, modify or create an eWay recurring payment processor with the following:
Username: your usual eWay username (ie. email address).
Password: The new API password you just created in Step 1.
Site URL: https://www.eway.com.au/gateway_cvn/xmlpayment.asp
Recurring Payments URL: https://www.eway.com.au/gateway/ManagedPaymentService/managedCreditCardPayment.asmx?WSDL


Also to confirm we are using the 1.2 version of the eWay Recurring Payment Processor and it does not require any update to get it working.