Step 1: Recall the root relations.
For $x^2+bx+c=0$ with roots $\alpha$ and $\beta$, the sum of roots is $\alpha+\beta=-b$ and the product is $\alpha\beta=c$. These come straight from comparing coefficients.
Step 2: List what is given.
We know $\alpha^2+\beta^2=14$ and $\alpha\beta=3$. We want $b^2$.
Step 3: Use a square identity.
There is a handy identity: $(\alpha+\beta)^2=\alpha^2+\beta^2+2\alpha\beta$. It links the sum of squares to the sum and product of roots.
Step 4: Substitute the numbers.
Plug in: $(\alpha+\beta)^2=14+2(3)=14+6=20$.
Step 5: Connect to $b$.
Since $\alpha+\beta=-b$, squaring gives $(\alpha+\beta)^2=b^2$. So $b^2=20$.
Step 6: State the value.
Therefore $b^2=20$.
Step 7: Quick sanity check.
A positive value for $b^2$ makes sense because any real number squared is non-negative, and $20$ matches one of the options.
\[ \boxed{20} \]