According to verizon support, if you have changed your Google password, the only way to get the phone to fully honor the change is to do a full factory reset. I have seem some posts claiming to have work arounds but they all only seem to address the email access, not the ability of the phone to sync the contacts, calendar and what ever it does internally.
Perhaps I am missing something but given that doing a password change seems like something that should be done from time to time, requiring a factory reset in any other world would be a non-starter.
I did it and of course everything is lost. Well, it does re-download the apps but they are "bare". Each app has to be put back on its menu location and all settings have to be set up again. Many apps have seem to have no provision to save the settings and even if they did, each one has to do it separately.
I would expect graduate student grade software to do better.
Perhaps the worst thing which caused me to toss the phone in a corner of the floor was its "DROID" that it seems to say at every possible occasion.
Since I can no longer change the password, this means that I can not use the google account for anything important anymore. I hope I am missing something but Verizon tech support says I am right.