When you change your computer password it needs to be updated in Outlook. Please note it can take up to 30 minutes for you password to need changed.
You should get a Windows security pop up when you open Outlook
If not go to the bottom right and click "Needs Password"
Make sure box 1 has your email address example email@example.com
Box 2 type your current computer password
Put a check mark in box 3, if you forget this step it will work, but ask you for your password again later
Finally hit OK
If it fails make sure everything is typed in correctly and try again.