You cannot change your Microsoft account password on your Xbox One console.
How to change your Microsoft account password in a browser
Here's how to change the password on your Microsoft account through a web browser.
Note If you do not know your Microsoft account password, you cannot use the following online steps.
Sign in using your Microsoft account email address and password.
On the Home page, under your profile photo and email address, select Change password.
You may be asked to verify that you are the account owner by receiving a security code via text or email and then entering it on the webpage.
Enter your current password.
Create a new password and then confirm it.
Once you've made the change, you'll receive a notification at your existing "security information" email address or phone number. This is a precaution in case someone else made the change. If that happens, you can cancel the change by following the instructions provided in the notification.
If you do not receive a notification, go to one of the following pages for more information:
If you have not updated your Microsoft account with an alternate email address or contact information for security, or you need to change your security information because it has changed, go to one of the following pages for more information: