Try changing your serial monitor baud rate to 9600. If possible, keep the default serial and software serial baud rates different. Also, how are you connecting it to your Arduino? Remember RX goes to TX and vice versa.
Odd baud rate, 74880.
I thought SoftwareSerial doesn't work reliably above 9600 bps.
What rate is your ESP module expecting?
How is it wired exactly to your Arduino? Mind that the ESP takes 3.3V so you need an extra resistor on the Arduino Tx line, and proper power supply for the ESP (the 3.3V out of the Arduino is probably not enough).
My default (hardware serial) on my ESPs is 115200 bps for regular communication, and the maximum (960k or so) the IDE lets me for programming. No problems there.