Click on "Can't access your account?" just below the Password Field.
Select the "I forgot my Password" option.
Click on "Reset your password" link.
Enter your Windows Live ID and the text in the captcha.
It will redirect you to the password reset page.
"Select an option for resetting your password."
1. Email me a reset link
If you have set the recovery email as the current one then it will not work.
2.Send a code to my mobile phone
you can try this to send the reset confirmation code.
3. Customer support.
Enter your Email address and enter an alternate email address to receive the reset link. click continue.
Enter as many information as possible to confirm that you owned the email. Leave unnecessary field or which you are not sure. Leave the billing information blank if you are not usng XBOX or ZUNE services.
Hope this works out for you.