yes, all somebody needs is your hotmail address and to guess you password, or do what is called brute force to get your password (brute force means basically using a computer to try every word in the dictionary as your password)
But highly unlikely that anyone would go to that much effort... well unless you work for someone like the CIA and use your hotmail address to send secret documents.
I say CIA as if you worked for a UK secret service they could just hang out on trains and pick the secret documents up there!!!