Remote desktop password out of sync with Microsoft account password

Hi Guys,

I changed the password for the Microsoft account that is linked to my PC recently. Now when I  try starting a remote desktop connection to that PC using the new password I get inccorect username/password error but I can still connect using the old password. 

Same problem with shared folders also. Is there any password caching for remote desktop connection and if yes I how do I clear that cache?

Please help