Error 4202 when accessing hotmail account in outlook 2010

Hi TechyV buddies!
I am having some trouble in accessing my Hotmail account in outlook 2010 using Hotmail connection 32-bit. Every time I open my Hotmail account in outlook201 0, I end up receiving an error 4202. The message error is this:
'Task {removed email address} reported error (0x80004005): There is an error synchronizing your mail account. Please verify your account is configured correctly by first accessing your mail on the web. Error: 4202.'
Can anyone help me solve this problem? I would really appreciate any help. Thank you!
