Q - " I was logged into my MacBook Air M1 and I changed my apple ID password. "
A - The Computer Password is independent from the Apple ID Password
A - The computer Password would be the Original Password that was Setup when the computer was First Setup
A - The Apple ID password is the Password you would be using to Log Into This Site to Post this question
A - So the real question was which of the two were changed ?
If the Computer password was changed, this would make a New Keychain.
Reset Computer Password for the Administrator Account Password
Intel Computer
1 - Restart computer and immediately hold Command + r keys
2 - Top Tool Bar >> Utilities >> Terminal
3 - Type resetpassword as one word and no spaces
4 - Press Return key
5 - Follow the prompts and remember the New Password
Apple Silicon M1 Computer
1 - Choose Apple menu > > Shut Down.
2 - Press and hold the power button on your Mac until you see “Loading startup options.”
3 - Click Options, then click Continue.
4 - Top Tool Bar >> Utilities >> Terminal
5 - Type resetpassword as one word and no spaces
6 - Press Return key
7 - Follow the prompts and remember the New Password