To reset Microsoft account password-
You might also be asked to answer a few security questions to validate your identity. Answer them all correctly to proceed further. Click the link received on your given email address or phone number, enter the new password twice, and you are good to go. The newly entered password will be required to provide during your Account live password reset process. If you need further assistance, contact our online support team.
Read here- account.live.com/password/reset