It may take a few hours for the email to arrive, although it should be faster than that.
Please check in your spam or bulk mail directory! Hotmail and some other "free" ISPs have been known to interpret our password reminders as "spam".
You should also check your registered email address. Click on My Stats in the top right hand corner of the homepage, and check your profile. If there's a typo in your email address, the email could be going elsewhere!