Microsoft gives access to all its product via one account which was early known as Hotmail account, outlook account and live account. Now you can enjoy all the services with a single account. So if you forgot your account live password there may a lot of problems such as your windows pc will be locked and you have to reset account live password. To reset your Microsoft account go to https://account.live.com/password/reset and enter your email id and click on the forgot password, now follow the instructions given on the page https://account.live.com/password/reset .