It would help if you would describe in more detail what isn't working and how you would like it to work. But here is what I can see so far...
First of all, you don't really want to use a DELETE and then an INSERT. A delete will delete an entire user record, and it sounds like all you really want to do is update the password. You should be using an UPDATE statement.
Secondly, your WHERE is flawed. You are deleting an entire user record based on the password. So if two users both happened to have the exact same password you would delete BOTH of them. The WHERE portion should be targetting some unique identifier to the user, such as a user name or ID number of some type.
Thirdly, good job on using parameters.
I think, in general, you are looking for a statement like this:
UPDATE LoginUser SET password=@password WHERE LoginUserID=@UserID