I had this same problem a couple of days ago. The solution that worked for me was to delete the OneDrive Cached Credential key from the Keychain. The procedure was the following:
- Launch Spotlight Search (shortcut: command + space), type keychain, and press return. This should launch the Keychain Access app.
- Type OneDrive into the Keychain Access search box. This should show a short list of keys related to OneDrive.
- Click on the key called "OneDrive Standalone Cached Credential" or some variant thereof.
- Press the delete key (or use the menu item Edit > Delete) to delete the cached credential key.
Cross your fingers (optional 🙂) and start up OneDrive again. If all goes well, it will now work properly. They system will automatically re-create the deleted key.