Ok, I searched and compiled some solutions:
In most cases this will resolve itself after a few hours or a reboot, but if it doesn't and if it is persistent, then you get such an error because you have restricted internet access due to Firewalls, bad configurations, protection software, anti-virus software, ad-blockers, ....
In that case, try these solutions out one by one and please report back if some (combination) solution works... Remember to close MSN Messenger before trying out something and to reboot after you change something (not required for every option).
1. The date on your computer needs to be set properly -- double click the clock verify that the time and date are set.
2. If your password information is not saved, verify that you are typing it in with the correct case (uppercase or lowercase).
3. Change your password at
http://memberservicesnet.passport.com/. Then try signing in again.
4. If you use a firewall (like ZoneAlarm, Norton Internet Security etc. ), it's possible that Messenger doesn't have the correct rights to access the Internet, especially since you upgraded. You may need to re/add Messenger to the allowed list of programs in your firewall if this is the case.
5. If you disabled your firewall in the past, it still may be blocking Messenger -- try restarting it and see if that helps the situation. You also might try uninstalling an installed firewall, to verify that it isn't causing a problem (even if it is disabled).
6. Clear your IE cache and cookies -- open Internet Explorer, click the Tools menu, then Internet Options, then click the Delete Files button, and when that's complete click the Delete Cookies button.
7. Check your IE Security settings -- open Internet Explorer, click the Tools menu, then Internet Options, then Advanced tab, scroll to the Security section, and verify that "Check for server certificate revocation" is unchecked. Also verify that 'Use SSL 2.0' and Use SSL 3.0' is checked, click "OK".
7b. If you don't want to uncheck "Check for server certificate revocation". Then you should add messenger.hotmail.com and loginnet.passport.com to your "Trusted Sites" in the Security tab in your Internet Options. Make sure the checkbox for "Require Server Verification" is cleared.
8. Click Start, then Run, and enter the following: regsvr32 softpub.dll
9. Click Start, then Run, and enter the following: REGEDIT
Now go to HKEY_CURRENT_USER\Software\Microsoft\MSNMessenger
Delete the keys DAConfigVersion and DomainAuthority. Make sure that you don't run registry protectors. Restart your Messenger.