not really, but can try something like:
add_action('wp', 'check_post_pass');
function check_post_pass(){
if(!is_single() || !post_password_required()) return;
global $post;
if(isset($_COOKIE['wp-postpass_'.COOKIEHASH])
&& $_COOKIE['wp-postpass_'.COOKIEHASH] !== $post->post_password){
define('INVALID_POST_PASS', true);
// tell the browser to remove the cookie so the message doesn't show up every time
setcookie('wp-postpass_'.COOKIEHASH, NULL, -1, COOKIEPATH);
}
}
in your template:
if(defined('INVALID_POST_PASS')) _e('The password you entered is funky');
But a much better idea would be to create your own the_content()-like function and password form + check function, without cookies...