Easy WP SMTP Login Error

I am getting the following error on the Easy WP SMTP plugin –

CLIENT -> SERVER: EHLO artifexforge.com
CLIENT -> SERVER: STARTTLS
CLIENT -> SERVER: EHLO artifexforge.com
CLIENT -> SERVER: AUTH LOGIN
CLIENT -> SERVER: [credentials hidden]CLIENT -> SERVER: [credentials hidden]SMTP ERROR: Password command failed: 535 5.7.139 Authentication unsuccessful, the user credentials were incorrect. [BL1P222CA0004.NAMP222.PROD.OUTLOOK.COM]
SMTP Error: Could not authenticate.CLIENT -> SERVER: QUIT
SMTP Error: Could not authenticate.

I recently updated my password for my mail server and thought this may have caused the issue but adding the new password within Easy WP SMTP hasn’t fixed it.

I was alerted that there was an issue because some of the customers for my Woocommerce shop were not getting email password updates.

Please help! I need to get this working urgently as it is integral to my small business.