MySQL Error: ER_NOT_SUPPORTED_AUTH_MODE - Client does not support authentication protocol requested by server

Question

I'm encountering an issue when trying to initialize my local database. I have already created a local database and added the necessary scripts, but I'm getting the following error:

{
  code: 'ER_NOT_SUPPORTED_AUTH_MODE',
  errno: 1251,
  sqlMessage: 'Client does not support authentication protocol requested by server; consider upgrading MySQL client',
  sqlState: '08004',
  fatal: true
}

I'm using MySQL Workbench 8.0 as my MySQL client. How can I resolve this error and successfully initialize my database?

Any help or guidance would be greatly appreciated. Thank you!