The attached images gives you a rough idea what the WLM "Store Folder" looks like from the windows explorer view.
All of these files and folders you will want to replace as there may be corruption in any one of them.
The red arrow indicates those email message folders and subfolders that are stored on my hard drive.
The "Hotmail (cl 4ed)" folder above represents all those folders and subfolders that reside on the Hotmail services servers.
You will want to move them over to the hard drives storage folder prior to begining.
There are a number of ways to move these messages out of this area, the simplest is to move them from within the
Windows Live Mail client [this should be done prior to deleting anything];
In their respective folders press the "Ctrl" key while left clicking on each email message, thereby highlighting them, let go of the "Ctrl" key then right click and choose "Move to Folder". Choose whatever folder you deem appropriate that is not located on the server.
Once the above has been done, logon to your Hotmail account through your browser, not the WLM client, then delete all folders
that are not part of Hotmail's simple default.
Do the same with your ISP's email as well if you have storage space on their servers.