Hello Aarushan Dhevakumar!
Thank you for reaching out to our Microsoft Community Forum. Please accept our sincerest hope that all is well.
We understand that you can't access your Hotmail.com account because you don't get the verification code to unlock it.
When it comes to account recovery, it's mostly about self-help articles and automated tools. So, if an item or tool doesn't work for you, there may be an underlying problem that we're not aware of. This also means there's not a lot of human intervention.
So let's work together as a team to get to the bottom of this issue. But to help you better I need to ask you:
- So when you follow our Reset a forgotten Microsoft account password guide what options are you presented in the "We need to verify you identity" window that pops up? Do you get the same email and text options as the photo below?

- If you only have the text option in the photo above, are you given the option to use a different phone number?
- Have you tried using the recovery form to get back access to the account?
https://account.live.com/acsr
We look forward to your response.
Sincerely
Glenn Rue
Moderator of the M365 Consumer Forum
Microsoft Community