This article studies the passive tracking problem of a wearable exoskeleton for lower limb rehabilitation therapy in the face of unmodeled dynamics, interactive friction, disturbance, prescribed performance constraints, and actuator faults. Adaptive neural networks and a smooth performance function are incorporated to establish a novel fault-tolerant tracking scheme, which can not only compensate for the nonlinear uncertainties and disturbance, but also handle the actuator fault with guaranteed tracking performance. A state feedback controller is presented by using the full state information and an output feedback controller is developed when the angular velocity is unavailable. The differential explosion issue of the backstepping technique is resolved by constructing a first-order filter and the unmeasurable velocity is estimated by a nonlinear observer. Semiglobal uniform boundedness stabilities of the exoskeleton system are proved via the Lyapunov direct method. The tracking performances of the designed control approaches are tested by comparative simulations.