Click on the "Change password" link on
the left-hand side. This will transfer you to the MSN logon screen.
You need to know your current 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 logging on at Step 2 described
above
Once logged on, click on the "Password" link under the "Account
security" section
Enter you current (old) password in the pop-up window along with your
new password twice. Click on the "Save" button
This should change your MSN password to the new one (and change
MSN Messenger password too)