Microsoft's Self Service Password Reset portal will allow you to reset your password similar to how you would reset a password for a bank account. You'll be able to manage your account's credentials at any time on any device as long as you have an internet connection.
You can click "Next" if you need to reset or forgot your password to continue with a reset.
Clicking the radio button next to "I know my password but still can't sign in" and pressing next will take you through an unlock procedure.
You will need to chose one of your Multi Factor Authentication methods you have setup. If its your first time where this is set up you'll be asked to enter new factors to help confirm your identity. In the example captioned below, I would chose to text my cell phone.
After confirming your identity you'll be asked to change your password.
This should update across our applications and the newest devices within several minutes.