here is th info that worked for me on this scenario, this only works for POP and it downloads only the inbox.
1) set POP server to: pop3.live.com and use the default port (995)
2) on usernameputit just like you where using Hotmail web site ([email protected], [email protected], etc.)
3) use SSL under secure connection.
4) use “Normal password” under Authentication method.
Done, this should do the trick, if you have any questions please leave a comment.