sure, if someone has made a dictionary for that.
Here's the scam...
Password are encrypted using one way irreversable encryption methods.
That way, everytime you enter a password, rather than passing it over the network, you can encrypt it locally, and compare the encrypted versions.
Because of the irreversability of the encryption, the password files themselves don't need incredible security... of course they're secured, but still it's not a #1 priority.
That means an attacker can see all these encrypted passwords... no big deal because they can't reverse it into the real password.
BUT if they know the encryption scheme (which is usually published since it's so secure), they can form a dictionary of words they think are passwords. They then encrypt each word of that dictionary and compare the results of those encryptions with the password files and see what matches, hence resulting in a lookup table which gives them an answer.
i.e.
You enter password hello, and I turn it into 123.
The hacker makes a dicitonary of the first column
and encrypts each one resulting in the second column
hello 123
goodbye 456
and 789
other 111
foolish 321
passwords 531
And he has the password files 123, and his 123, he can make a match.
If he's made a dictionary including your language, the same principles apply.
Quite extensive dictionaries are available online. And I've watched them work in mere seconds matching passwords like w1nt3r with ease.
Though, I do have to say... with a hotmail account, this isn't exactly a likely situation... with a school account, or work account, this becomes much more likely.
(haven't tried it, but searching google for Unix Security Dictionary Attack should result in some lengthier discussions)
Hope that was clear,
Rob