Username and password does not work with Youtube

[Shulyaka]

Checklist

• I'm reporting a broken site support issue
• I've verified that I'm running youtube-dl version 2020.07.28
• I've checked that all provided URLs are alive and playable in a browser
• I've checked that all URLs and arguments with special characters are properly quoted or escaped
• I've searched the bugtracker for similar bug reports including closed ones
• I've read bugs section in FAQ

Verbose log

pi@speaker:~ $ youtube-dl -v --username="PRIVATE" --password="PRIVATE" "https://youtu.be/tMMtWhhd-cU"
[debug] System config: []
[debug] User config: []
[debug] Custom config: []
[debug] Command-line args: ['-v', '--username=PRIVATE', '--password=PRIVATE', 'https://youtu.be/tMMtWhhd-cU']
[debug] Encodings: locale UTF-8, fs utf-8, out UTF-8, pref UTF-8
[debug] youtube-dl version 2020.07.28
[debug] Python version 3.7.3 (CPython) - Linux-5.4.51-v7l+-armv7l-with-debian-10.4
[debug] exe versions: ffmpeg 4.1.6-1, ffprobe 4.1.6-1, phantomjs ., rtmpdump 2.4
[debug] Proxy map: {}
[youtube] Downloading login page
[youtube] Looking up account info
WARNING: Unable to look up account info: HTTP Error 404: Not Found
[youtube] tMMtWhhd-cU: Downloading webpage
ERROR: tMMtWhhd-cU: YouTube said: Unable to extract video data
Traceback (most recent call last):
  File "/usr/local/lib/python3.7/dist-packages/youtube_dl/YoutubeDL.py", line 797, in extract_info
    ie_result = ie.extract(url)
  File "/usr/local/lib/python3.7/dist-packages/youtube_dl/extractor/common.py", line 530, in extract
    ie_result = self._real_extract(url)
  File "/usr/local/lib/python3.7/dist-packages/youtube_dl/extractor/youtube.py", line 1893, in _real_extract
    'YouTube said: %s' % unavailable_message, expected=True, video_id=video_id)
youtube_dl.utils.ExtractorError: tMMtWhhd-cU: YouTube said: Unable to extract video data

Description

The --username and --password parameters do not work with YouTube. The error I'm getting is WARNING: Unable to look up account info: HTTP Error 404: Not Found. This is best demonstrated with private videos that require password to access.

Please note that the URL in the video is a private video and you cannot access it in the browser without my password.