Entry &1 already exists in secure store

What causes this issue?

An entry with the name &V1& is to be written to the secure storage.
However, no entry with this name exists.

System Response

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

How to fix this error?

If the appearance of this message does not cause you any problems, you
can ignore the message.
Otherwise, contact your system administrator.

Procedure for System Administrators

An error has occurred if this message interferes with the work flow, but
not if the message occurs when performing an optional function.
In the first case, check if there is an SAP Note for this message.

Error message extract from SAP system. Copyright SAP SE.