Cannot sign-in to Nokia Account via Nokia Suite

Nokia Suite connects to the server account.nokia.com and auth.gfx.ms. For these servers, SSL 3 was disabled on October 15th 2014. As of today, these servers require TLS 1.0. Nokia Suite does not use TLS 1.0 but only SSL 3, because Nokia Suite uses the QT framework 4.7.4. Up to that version, the QtNetwork class QSslSocket used SSL 3 and not TLS 1.0 as default protocol. You can test yourself via a terminal command and OpenSSL:
openssl s_client -connect account.nokia.com:443 -ssl3
which simulates the behaviour of the Nokia Suite. Therefore, the initial request of the Nokia Suite is rejected with a SSL/TLS handshake-failure. Because of that, Nokia Suite gives this wrong error message. Hopefully, Nokia enables SSL 3 again.
Edit: added workarounds
1st Workaround – use another tool
If you skip the creation of an account and ignore that wrong error message, you are still able to use the Nokia Suite. Only these features need an account:

• Software Update:
  A) Software Recovery Tool (requires Windows 7 or newer; does full reset)
  B) Nokia Software Updater (updates; does not work for devices since 2011)
• Nokia Music: MixRadio » Settings » Purchase-History …
• Nokia Store: download from its webpage …
• Purchase History: view on its webpage …
• Upload to SkyDrive/OneDrive:
  A) Transfer my Data (for contacts),
  B) Microsoft Outlook 2013 (for contacts and calendar), and/or
  C) Micro-USB cable (for photos)

2nd Workaround – replace a DLL file (3rd Edit: added exit step, reduced to just one DLL)

1. exit the Nokia Suite via right-click in (bottom, left) Windows Notification Area (system tray)
2. download this modified version of ssleay32.dll …
3. replace this file at C:Program Files (x86)NokiaNokia Suite

A previous version of this workaround forgot the step of installing the ‘Visual C++ Redistributable Packages for Visual Studio 2013’. Later, this step was added. As of today, this installation step is not required anymore because the DLL was updated and does not need that package anymore. If you still face an issue, report here in this thread! If everything works, please, just give kudos by clicking at that star on the right.
Source: Nokia