We will now explain you how to reset password on hotmail account:
Enter hotmail web address: www.hotmail.com
Click "Can't access your account?".
When new page is opened, click "I forgot password", and then click "Reset your password".
Then in the next page enter name of your hotmail, outlook, Microsoft Windows Live account or MSN account or email.
When you click "Next", you must open your alternate address which you entered on creating email. Microsoft hotmail will send link for reset on your alternative email and when you click on it you will be able to reset password and enter new password. So next time take attention on alternate email address. This is best way to retrive and recovery password.