2.47 is working this time. How odd. I wonder what the issue was.
I don't have a master key file, this is why the error was such a surprise.
If you have upgraded from 2.46 to 2.47 you might get back to a useable state by downgrading to 2.46. This worked for me.
I am also new here, but I have had this problem. I downgraded back to 2.46 and the issue went away. There is no corruption to my password file.