You can now modify the saved Passwords in the Chrome browser with the new “Edit password” option available in the Passwords Settings page. The feature is currently available behind a flag in Chrome Canary for Windows, Mac, Linux, and Chrome OS and is working when enabled.

Google Chrome Password Manager remembers the username and password you enter on websites and auto-fills them when you visit next time. Google has recently announced it will bring a “touch to fill” feature for accounts.
You can view and manage the passwords saved to the Chrome browser by visiting chrome://settings/passwords.
Firefox Password Manager aka Firefox Lockwise already allows to change passwords for websites on Windows, Mac, and Linux platforms, but Chrome Password Manager lacks the option to modify or update a password, Google has added that today to Canary version.
To get started
1. Launch Chrome browser
2. Visit chrome://flags page
3. Search for “Edit password in Settings”

4. Select “Enabled” from the dropdown and restart the browser.
5. Click on Chrome menu > Settings > autofill > Passwords or visit Chrome://settings/passwords
6. Under Saved Passwords, click on more actions to notice the newly available “Edit Password” option in place of Details, select It.
To update or edit the password, you may want to see the password first, for that, click on the eye icon and enter the Windows Password. Once the authentication is successful, you can able to modify the password and save it to the Chrome browser.

Chrome’ Edit Password” dialog cautions the user to ensure the password you’re saving should match with the password of the respective website.
ICYDK, Chrome for Android has already this function available behind a flag and lets you edit passwords easily. You should be enabling the “Password edition for Android” flag.

Related articles:
Google redesigns Chrome Passwords Export and Import feature
Chrome for Android receives ‘Touch to Fill’ for Passwords
Chrome’s new Safety Check scans for bad extensions and compromised passwords
Google brings Password Checkup feature to Chrome Settings
Chrome to Prompt for Windows Password to Show Saved Passwords in It