The unstressed vowels like in the example are pronounced neutral, close to "e" in English "sister". In some dialects you can hear precisely "хОрОшО" (Volga region) or some people from Caucasian republics can say "хАрАшо", but in common variant of language it is neutral.
The main rule in prononciation should be the following: there are some common pronociations of letter's combinations (сч=щ, тся = ца, стн=сн, е unstressed =и etc) but you can pronounce them just like they are written and it won't be a mistake, it will be just a slight accent.