Very annoying indeed.
The instructions by Watersideguy didn't work for me. So I deleted almost all of my apps; I figured out how to delete the old account--not trivial and full of "warning! warning! warning!" messages and emails; and I was eventually able to turn off all automatic updating. I'm not sure which of the above (hours of work!) did it, but finally I've regained control of my watch.
Apple security is beyond frustrating to me. While no longer being asked to enter my password hundreds of time each day, I'm still asked daily. When it happens, I break out in a sweat, hoping hoping hoping to get past the trial. I s-l-o-w-l-y, o-n-e c-h-a-r-a-c-t-e-r a-t a t-i-m-e enter my password and still usually mess up. Then it asks me for the make of my first car. I enter "VW" and am told that is incorrect--cars must have more than two characters so I enter "volkswagon" (trying to remember if it is an "o" or an "e") after which it asks me the name of the street I grew up on. If I mess up three times in a row (which happens frequently because I'm not a good typist on a cell phone and they don't show the characters after you type them), then I have to reset my password. And of course they don't let me reuse any one that I have used previously.
I keep getting prompted to go to two-factor authentication when I can't even get into my phone with one-factor. I can only imagine what would happen if I went to two-factor authentication--I suspect my phone would become an inaccessible brick.
If Apple (or any other company) can figure out how to NEVER AGAIN ask me for a password, I will be their customer for life.