There is a problem with hotmail putting emails into the junk folder. Check your junk folder first for any welcome emails.
A welcome email would have been sent to you when you first registered with a link to set up your account.
If you're having problems with the login or password, enter your PayPal email here and press the reset button...
Note: payments via bank account (eCheque) will take 3-7 days to clear and new accounts will not be accessible until it clears.