What message is being shown when you are trying to sign in
Just give me couple of minutes
Remove existing account
Start new account
when you get 'unable to verify' pop up, hit 'OK' and then SAVE and save it anyway.
Return and open the account
TURN OFF "use SSL"
If you get check marks, next to each field then you're done!
Go to hotmail account Security tab and click "turn off 2 step verification".
Then recreate your hotmail account on your iPhone.
What is the status. Does the problem is still there.
Please rate the solution positively
If there is anything else i can help you with, then do revert back