Heath,
I am the IT support for a company and today I had a request for support from one of our branch offices and the issue the user was experiencing was exactly as you described it, your wording is absolutely perfect.
I don't know why, but the Microsoft people always fault the user - i.e. user error with password management - before the will admit fault with their program.
In this case, like yours, it is a brand new PC I installed for the user in January w/Office 2013 and has been used vigorously every work day & they have had no issues whatsoever with Office or the PC until this issue with Outlook 2013 today.
This is not a user issue, it is a program issue.