Navigate to the Hotmail homepage. Enter your Windows Live ID and password, and then click the "Sign In" button.
Click the "Options" link under "Hotmail Highlights" near the top of the window.
Click "Hotmail" under "Show Options for" on the left side of the window.
Click "Account Details" under "Managing Your Account." This screen shows all of the details for your Windows Live ID.
Click the "Change" link next to "Birth Date."
Enter your Windows Live password to verify your identity, and then click "Sign In."
Enter your birth date using the drop-down menus at the top of the page.
Click the "Save" button.
Unfortunately you cannot change your windows live id. If you get it wrong or want to change it you need to create a new account with accurate details.
yes but it costs 800 Microsoft points
Windows Live ID (Formerly known as Passport) is a single sign-on service offered by Microsoft. Setting up a Windows Live ID allows you to access several different applications with the same credentials. Some applications that use your Windows Live ID to authenticate you include Hotmail, Windows Live Messenger, and MSN. Xbox Live also uses your Windows Live ID! If there were no Windows Live ID service in place, you would need a separate ID and Password to access each of these services.
Do you mean a Windows Live ID?
Yes.
log into your windows live and go to options (under sign out), then click more options. Under manage your account it will say view and edit your personal information. then you can change your password
Free
No
You dont
No u cant
If your web address was automatically created, you can personalize it one time. If you need to change your web address after you personalize it, you must sign up for another Windows Live ID(The user name and password that you use to sign in to any Windows Live, MSN, or Office Live sites and services. If you have a Passport Network, Hotmail, or Messenger account, you can use it as your Windows Live ID.) and then personalize the web address associated with that account As you see above, Microsoft mentioned in Live Spaces Help site, that the changing of the URL is not allowed
You cant :P