Now the steps for resetting your password depends on whether you have turned the two-step authentication on or off. In the first case, you have to visit account.live.com/password/reset and follow the onscreen prompts.
On the other hand, if you haven’t enabled this option, then go to account.live.com/acsr, enter the email address associated with Account Live, then provide any other email ID you want to use for resetting the password, type the captcha code carefully, and submit.
An email containing the password reset code will be sent to your provided email ID. Open that email and use that code for resetting your password, and accessing your account.