I had already switched my local account to a microsoft account but when I again switched it to a local account I cannot switch it back to my microsoft account as when I enter my win 8 password and enter the email address it gets stuck on "Please Wait".
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Have you tried just creating a new account and migrating your files? that's what I'd do. After that, I probably wouldn't switch it back and forth between the two more than once as it's bound to cause conflicts.