Hotmail users can change their email account password using the Options menu. Click the Options link available on the right hand side of your Hotmail Inbox.
From the menu list, select More options. Under the Manage your account section, click the View and edit your personal information.
The following Account Overview section will be displayed. In the Account Information section, Click the Change link available next Password field.
This would display the Change your password screen, where you can type your new password. You can protect your account information bys electing the
checkbox with label as Make my password expire every 72 days. This would set your password to expire every 72 days. Changing your password frequently helps protect your account information. When your password has expired, you will receive a prompt requiring you to reset the password. After entering the required information, click the Save button to confirm the changes.