Thunderbird Password Update

Question:
I changed my email password, how do I update my account settings?

Answer:
(This applies both to IMAP and POP3:)

Thunderbird 'caches' your password. What you need to do is tell Thunderbird to 'forget' your (old) password.

In the menu, select Tools | Options.

Then click on Privacy icon

Move to the Passwords tab and click on 'Edit Saved Passwords'

Select the site/username line where your password needs to be updated and delete it by clicking Remove.

IMPORTANT:
click Close and then restart Thunderbird.

The next time Thunderbird tries to poll email from this server, it will prompt you for the password and offer to save it.