15a outlet for microwave?

SV reX said:

- If that wire is really 14 ga, you MUST CHANGE THAT BREAKER!!

Paul is 100% correct, and know his stuff on the subject. 
I've never worked as a residential sparky... but have some good training!

I've personally never had a single issue with the box store generic (cheaper) breakers, and don't know anyone that has, but pro's talk to a bunch more folks than I. Do note: not all breaker brands are interchangeable. 
Nreakers do wear out, and start tripping to early, but usually from tripping too often - due to legitimate over powering! Fourtionatly, you don't have that issue, anyway

As others have noted, you won't burn your house down if your run that microwave on a 15A circuit. (You might trip a breaker).
 

The fire risk you have is that 20A breaker on 14 ga wire. If you run the microwave on that circuit without changing the breaker, you COULD burn the house down.

Your panel looks fairly recent. 
 

Removing the cover will give more info. You might be able to see the wire sizes. 
 

The actual age isn't that important. 

In reply to SV reX :

Ah, good idea. I'll pop the cover off later today and see what I can see. Is removing the cover something I should hit the main breaker for?

In reply to thatsnowinnebago :

No, the panel will still be hot if you turn off the main breaker. 
 

DONT TOUCH ANYTHING!  Just look. 

Basically, the vertical metal bars (breakers are mounted to them- called buses) down the middle of the panel are HOT.

Additionally, the screws on the back of each breaker are also hot, and the wires attached to them. 

SV reX said:

Basically, the vertical metal bars (breakers are mounted to them- called buses) down the middle of the panel are HOT.

Additionally, the screws on the back of each breaker are also hot, and the wires attached to them. 

Noted, thank you.

I ware some medium duty rubber snug fitting gloves and cover the metal shaft of my screwdriver with a couple layers of electrical tape when working around the fuse panel. It is not a 100 percent guarantee but if you have an accidental screw up it can help. An electrician showed me this. Not sure how much real protection it gives me but it can't hurt.   
 

Oh and your box looks almost identical to the one in my house.  It is original 1961 200 amp service. 

Good news everyone: I didn't die. I kinda forgot about getting back to this until this weekend when my FIL was in town. We popped off the cover to the breaker box, and confirmed that the wires feeding the outlet are 12 gauge. So I bought a kitchen cart thing and moved the microwave off the counter. Basically doubled my counter space for $150. Pretty good deal. 

In reply to thatsnowinnebago :

Excellent!  Congrats!