Try googling the hotmail addy to see if it's linked to anything else on the web- social networks are the best. You can usually find out most of the personal info you need to answer the security questions from that. The hard part is the address which they used to require(and I presume still do?) since they're less likely to post it. If you can find a postcode/zipcode then you can at least narrow it down and try trial and error til you get there.
Beyond that, Demo might be able to help you with accessing it for a fee.