Screenshots shared by Android Authority apparently show a new option in the settings menu of Google’s Password Manager interface reading, “Delete all data: From Google Password Manager, including ...

Google Password Manager now has a "Delete all data" option to erase all saved passwords at once. The tedious process of individually deleting passwords or wiping all Chrome data is now simplified.

Enter your Google account password and click "Confirm ... you can also turn off the password requirement by toggling off the "Show lock screen when waking from sleep" option.