Nokia Lumia 1020 - Why does my Lumia phone still keep on syncing with the old password even though I have changed the Microsoft account password at live.com website?

If you change the Microsoft account password online and don’t change the password on the phone, the phone features will show an authentication error either immediately or after a delay:Features where a delayed error occursPrimary Microsoft account use and sync experiences (email, people, calendar, SkyDrive, chat, etc.) usually have a cached auth token that can take up to 8-to-12 hours to expire. Once it does, those experiences will begin to fail and a generic password failure is shown.Features where an immediate error occursPrimary Microsoft account experiences that need fresh auth, such as Store purchases and downloads will fail immediately and a generic password failure is shown.If concerned about security in case of a lost or stolen phone, it is recommended to set a password for the lock screen. You may also consider using the Find My Phone functionality on WindowsPhone.com to map, lock, or even erase the phone.