This is a tricky one, I have the following output:
mysqldump: Got error: 1045: Access denied for user \'root\'@\'localhost\' (using password: YES) when tr
Go to Start-> All Programs -> Accessories right click on Command Prompt click on Run as administrator
In the command prompt using CD command Go to MySQL bin folder and run the below command
mysqldump --user root --password=root --all-databases>dumps.sql
it will create dumps.sql file in the bin folder itself.