How to change password for my Microsoft Exchange account?

I’m using Outlook from my Microsoft 365 on Windows 11 as my email client. Recently my Microsoft account was hacked. (After two unsuccessful attacks from the UK and Brasil, a third one from Austin, Texas was successful. All within a couple of minutes.)

Anyway, this forced me to change the password for my microsoft account, which mean I also have to change it for my outlook account. But when I go to my accounts and click “Change…”, there seems to be little I can do there, changing my password to start with.

I have considered deleting my account and recreate it, but I’m a bit afraid I’ll have to supply information I don’t know, think server names, ports, authentication settings.

How can I change my password, or shouldn’t I be worried about recreating the account?