On the next page click on the "change" link within the "Password
reset information" area
You need to know your current (old) MSN password in order to be able
to change it. The next screen will ask you to provide your MSN id (Windows
Live ID or Hotmail login) and your current MSN password.
If you don't remember your current password you can check whether
it can be recovered: Start your Windows Live Messenger and click on
the "Sign In" button. Being able to sign in to your messanger
without having to enter your password means that your MSN password is
stored locally and can be easily recovered.
If you want to recover your current MSN password, download
Password Recovery for MSN, install it, run it and click "Recover
Password" button. This will show all MSN passwords
that are currently saved on your system.
Use your current MSN password when entering it at Step 4 described
Click on the Save button and this should change MSN password
As a confirmation of the password change you will see a message saying
"Your information has been saved" (this will also
change MSN Messenger password too)