This happened to me as well. No password email was ever sent to the email address I provided in the recover password page (http://forums.iis.net/user/emailforgottenpassword.aspx). Here's what I had been trying:
- Login w/ a valid Windows Live ID
- The iis.net site would tell me that my Windows Live ID corresponds to an existing username.
- I entered what I thought was my name/password
- Wouldn't let me in
- Clicked the "I forgot my password" link
- Entered my email address and clicked "Recover Password" button
- Message told me a link would be sent to my email in apprx. 15 minutes
The email never came to the email address I specified. Now I do not have my Windows Live ID linked to a hotmail account, I use an external email address, so maybe that's causing problems with the recover password page?