NO!

If you change your webmail password you need to change the password settings in Outlook or Outlook Express ( or any other mail client you use )

For Microsoft Outlook 2003

To change your Microsoft Outlook password, follow these instructions:

• Open Microsoft Outlook
• Click the Tools menu
• Click the E-mail Accounts menu item
• Check View or change existing e-mail accounts
• Click the Next button
• Double-click the e-mail account for which you wish to change the password
• Under Logon Information, type your new password in the Password box.
• Click the Next button
• Click the Finish button
• If your server requires you to authenticate for outgoing mail you will have to click on more settings, then outgoing server.  If a password is set - change it to the new one. 

For Microsoft Outlook 2007

To change your Microsoft Outlook 2007 password, follow these instructions:

• Click on the Tools drop down menu
• Choose Acount Settings
• Select you e-mail account then click Change
• Type a new password in the Password: field and then click Test Account Settings
• Click Close, then Next and Finish

For Microsoft Outlook Express

Select "Accounts" from the "Tools" menu. The "Internet Accounts" window opens. Under the "Mail" tab, all email accounts that have been set up in the program will be listed. Click the Outlook Express email account whose password you want to change and then hit the "Properties" button on the right.

Move to the "Servers" tab in the email account properties window. Now type the new password in the "Incoming Mail Server" password field. Put a checkmark in the "Remember password" box if you don't want to enter it each time Outlook Express connects to the web server to download email. Hit "Apply" followed by the "OK" button.