Recently users who have upgraded to AIR 3.4 may have faced issues where Story Free users are not being able to log into the Story Desktop Application (AIR) or Story Plus users needing to re-enter their login credentials in the Story Desktop Application.
These issues got introduced in AIR 3.4 in which the AIR application is not able to access its Encrypted Local Store (ELS). More details about this issue is available at http://forums.adobe.com/message/4642305#4642305?tstart=0
The AIR team is working on this issue. Will keep the forum updated about the developments.
Workaround for all of these issues is to un-install AIR 3.4 from the system and then install AIR 3.3 which can be downloaded from http://get.adobe.com/air/otherversions/
Please use the following links to download AIR 3.3:
Europe, Middle East and Africa