There is nothing to worry about. login.live.com is the name of the server that handles all requests for sign-in to Microsoft Account, and all the stuff after the ? is just the list of the different parameters that the server needs to know in order to be
able to handle the request properly. For example,
ct=1440956169
is the time the request was made, given in seconds since 1 January 1970. That time stamp equates to
30/08/2015 17:36:09 GMT.
This part:
https:%2F%2Fmail.live.com%2F%3Fowa%3D1%26owasuffix%3Dowa%252f
reads after decoding the %-encoded bits
https://mail.live.com/?owa=1&owasuffix=owa/
which is the URL of the page to be returned to after signing in - an Outlook Web App page, perhaps. There is no personal data in the URL, and nothing malicious.
