There's also a typo in line 2:
Set objExcel = WSript.CreateObject("Excel.Application")
it should be WScript not WScipt
Sorry about that
I just had a thought - Excel offers different levels of protection. I assumed you meant the worksheet had password protection (Tools > Protection > Protect Sheet), but maybe you meant that it has a password specified in the SaveAs dialog when the file was first created? If this is the case you can only remove the password by saving it as a new file name, like this (hope for no typos :))
Set objExcel = WScript.CreateObject("Excel.Application")
objExcel.Workbooks.Open "<<name and path>>",,,,"<<password>>"
objExcel.Workbooks(1).SaveAs "<<new name>>",,""
Set objExcel = Nothing