Question about Outlook Express

I am getting emails that look suspicious too me, telling me that my account will be closed unless I provide information that I believe would support identity theft. I do not want my account to close, but I do not want to fall prey to a fraud scheme either. Is this email valid? If so, is there I way I can correct the problem without simply replying to an unknown sender? The text of the latest one is below:

Dear MSN and Hotmail Subscriber,

We have recently confirmed that different computers have logged onto your Hotmail account and multiple password errors have been entered. We are hereby  suspending your account; as it has been used for fraudulent purposes.. Now we need you to reconfirm your account information to us. Click your reply tab, fill in the columns below and send it back to us or your email account will be suspended permanently.

* Full Name:

* User name:

* Password: 

* Date of Birth:

* Country Or Territory:

* Alternative Email:

* Alternative Email Password:

This back up is necessary to update and to avoid blocking of your account. If you do not respond to this message with in 24hrs you will lose your account permanently. Thank you for your usual co-operation we apologize for the inconvenience.

Sincerely,

Member Service Team