Windows live Messenger is showing error 80048821

Hi trouble shooters,
I am in the process of setting the system, when I came to Windows Live Messenger I ended up with an error message. But I am sure, checked twice password and ID are damn perfect. Why I am getting this error? Do I need to check the internet security settings? Please assist to find the solution. Thanks.
Title: Windows live Messenger error 80048821

Windows Live Messenger could not sign you in because the windows Live ID you entered does not exist or is incorrect.
If you have forgotten your password, click Forgot your password? at the bottom of the main Messenger window.
Error code:80048821
