I had the same issue today. What I did is mentioned below.
Go to XCode -> Preferences -> Accounts -> Apple Ids
From that select your Apple ID, remove it, and then add it again. Quit Xcode, open it again, and then clean and archive the project.
It worked for me.
Hope it works for someone else also.
EDIT
If your Apple ID is already there you can also try with refresh button for all provisioning profiles and certificates.
Then restart Xcode, clean and build the project. You'll be good to go!
On Xcode 7.1 I disabled bitcode during the submission and it uploaded perfectly.
EDIT: You can also export your app archive (iOS App Store Submission) and use Application Loader (press choose button and locate your export file). There is no "Include bitcode" option, so my Guess is it's off by default in Application Loader.
Finally i am able to upload the ipa to the iTunes store.
First of all i create ipa using Xcode 6, Export for iOS App Store Submission. Save on my mac.
And upload ipa using Application Loader version 2.9.1. And it was successfully uploaded to iTunes.
May be It will help someone.
I know it is an old question, but maybe I noticed something that it might help you.
Today when I try to login to Itunes Connect via browser, Apple returns me a message "Your Apple ID or password was entered incorrectly." , but I'm sure that my id and pass was correct . It seems apple side problem, not ours.
I think that there is something that it doesn't work in Apple, and it is not an Xcode bug.
I don't know why they don't warn anyone about that.
EDIT
Now Apple updated its System Status - Apple Developer.
I experienced the same error when I was working from overseas and had a very slow internet connection (upload speed). In my case it had nothing to do with the credentials or refreshing of the profiles. It was just the upload speed. I had an upload speed of less that 1Mbps. I attempted multiple times without success. Then I went to a restaurant where the upload speed was 11Mbps and it worked perfectly.
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