Hotmail password

I accidentally typed in my hotmail password incorrectly so I clicked the link to change password, put in the letters / numbers that come up in a box and then got a message saying a link has been sent to my alternate email address. The problem is I haven't used that email address for about 4 years and can't remember the password. I now know what my Hotmail password should have been - will I be able to sign in with it in 24 hours?
Thanks