For more information on the steps required to change Outlook password on iPhone Let's go through the steps. On the iOS device, go to Settings. Scroll down, then click the option to create a password. You must enter your security password or enter an ID that is either a face or a fingerprint. You will be presented with the list of email addresses added and then tap on the one you wish to change. There is a password section. From there, you can modify the password. After you have changed the password, click done. This means you have successfully changed your Outlook Password on the iPhone device.