The fix worked. Many thanks to those who worked long,
late hours on this. There were some intermediate
questions you get asked during the process, such as, "Do
you also want to clear your online banking passwords" (I
said "No", and that seemed to work ok.) It might be
helpful to provide a bit more detail of what to expect,
and guidance on how to answer the questions.
Also, perhaps Microsoft needs to rethink the architecture
of how Passport interacts with Money. Maybe like a
secondary password that would allow at least local access
in case Passport gets garbled again.