I am using Paypal recurring payments and direct payment.
I tested it using beta-sandbox and works fine. Now I want to make to real paypal account.
I have been given real paypal account, and I login with it on https://www.paypal.com/, but I don't know how can I generate API Credentials ?
this looks completely different from sandbox environment.
Check out this guide to Obtaining API Credentials from PayPal. You will find how to create/view/remove your API signature/certificate in PayPal's live setting.
Update
As per the comment, the previously held answer is out of date. To obtain your API credentials, log in here.