Vista - Windows Live Mail not accepting hotmail password

Hello

I just changed my password for Hotmail, but now the new one is not being accepted by the Windows Live Mail where I usually access it.

The whole thing started last night when I couldn't get on with Windows Live mail, even with the old password, which was saved on it. I resorted to using the web access, and had to change the password because I had forgotten exactly what it was. Having changed it at that time, I later tried to use Windows Live Mail again, and it will not accept the new password as genuine, no matter how many times I put it in. I tried going to accounts to change it there, to no avail.

I keep getting:

Unable to send or receive messages for the Hotmail (*it puts my username here*) account. The sign-in name you entered doesn't exist, or your password is incorrect.

Server Error: 0x80048821
Server: 'http://mail.services.live.com/DeltaSync_v2.0.0/Sync.aspx'
Windows Live Mail Error ID: 0x80048821

The new password works fine when accessing my hotmail account from the web. It just will not do it on Windows Live mail. Before yesterday I had no problems with it.