Why won't my iPhone let me use my email?

I tried to add my email address to my new iPhone earlier.

I put it my name, email address and password, but it says,'The username or password for pop3.live.com is incorrect.'

(I have no idea what pop3.live.com is)

My email address is correct because I have used it for years prior to today, and my password is correct because I checked it on my email on a computer recently and it worked!

So why won't it work now?!

Those are the server settings. The are incorrect or you might possibly be choosing the wrong choice from the list. Set up choosing outlook. Google the incoming and outgoing server settings if still having issues.