Sometimes even the best of us forget passwords. Fortunately, most services allow you to reset your forgotten password. If you are an Outlook user and have forgotten your password, you can follow the Outlook Account recovery process to recover your account password.
scarlettBeginner
How do I recover my Outlook account
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SPBuddy
Yes it can be recovered as well. you have to go to outlook.com and then follow the steps to by clicking forgot password. It usually takes couple of steps and then asks you to set a new password.