Lockout policies define how many failed logon attempts users can make before the system locks their accounts. When you delete a lockout policy, the policy is removed from the deployment and can no longer be assigned. Each security domain must have a lockout policy. If you delete a lockout policy that is assigned to a security domain, the default lockout policy is automatically assigned to the security domain.
In the Security Console, click Authentication > Policies > Lockout Policies > Manage Existing.
Click the lockout policy that you want to delete, and select Delete.