[shurovik]

Access to Hotmail via Outlook and Outlook Express now requires a subscription

Вам же система говорит, что для доступа через ОЕ нужна какая-то подписка. Зайдите в свой ящик (через веб-интерфейс) и поищите в настройках.

[Blast]

Выдержка из хелпа hotmail:

Access your MSN Hotmail account from Microsoft Outlook To protect our users from the increasing amount of unsolicited junk e-mail or spam sent from MSN Hotmail accounts through Microsoft Outlook and Microsoft Outlook Express, we have reluctantly had to restrict the new use of Microsoft Outlook and Microsoft Outlook Express to subscribers. If you use Microsoft Outlook 2002 or 2003, you can set up a separate Inbox for your Hotmail account within Outlook. This option is currently available for Microsoft Windows operating systems only. In Outlook, click the Tools menu, and then click E-mail Accounts. Click Add a new e-mail account, and then click Next. Click HTTP, and then click Next. Type your user and sign-in information, and then make sure Hotmail is selected as the HTTP Mail Service Provider. To help protect your privacy, do not select the Remember password check box unless you are the sole person with access to the program. If you do not select the Remember password check box, you will be asked to enter your password in step 5. Do not select the Log on using Secure Password Authentication (SPA) check box. Click Next, and then click Finish. Note After you set up your Hotmail account in Outlook, your Hotmail folders appear in the Outlook folder list.

Еще здесь посмотрите, все ли у вас правильно настроено: http://tiatis.dax.ru/1020.htm