Navigate to http://www.office.com to begin the process of setting up two-factor authentication.
Under the Apps subheader, click Outlook.
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Begin by clicking the Set it up now link next to Authentication Phone is not configured.
Enter in a phone number to provide verification; a cell phone number is acceptable!
Click the corresponding button for the method you would like to use to verify the number your provided; text me or call me.
Within the next screen you'll enter in the verification code!
After you enter in the correct verification code from the phone-verification step above, you will be returned to the main two-factor authentication dialog window.
Continue the process by setting up your Authentication Email!
Next to Authentication Email is not configured, click Set it up now.
Within the Authentication Email field, enter in the email address which you want to use to verify your account.
Click the email me button to continue; you will be sent another verification code to verify the email you specified.
Once you receive the verification code, enter in the code and click the verify button to continue.
After you enter in the correct verification code from the email-verification step above, you will be returned to the main two-factor authentication dialog window.
If both verification steps are confirmed, a green check mark icon will appear.
To finish the setup process, click the finish button at the bottom of the two-factor authentication dialog window.
You will now be able to recover your password through the website!