Hi, I'm John!
Are you trying to sign in from a new device or location? Sometimes that can also trigger extra security checks.
The "Too Many Requests” error usually happens if there have been multiple login attempts in a short period of time, or new device or location, and Microsoft temporarily blocks further attempts to protect the account.
The only option for now is to wait for the full 24 to 48 hours for the lockout to clear completely.
Try not to attempt signing in during this time, as doing so will reset the waiting period back to zero. Once the time has fully passed, you should be able to sign in again without needing to reset your password.
Click "Add comment" to let me know.
Regards,
John J.D.