Stop workflow service then update the password like this.
For Service Bus:
Import-Module ServiceBus
Stop-SBHost
$mypassword = ConvertTo-SecureString 'yourpassword' -AsPlainText -Force
Update-SBHost -RunAsPassword $mypassword
Start-SBHost
For WorkFlow:
Stop-WFHost
$mypassword = ConvertTo-SecureString -string 'yourpassword' -force –AsPlainText;
Update-WFHost -RunAsPassword $mypassword
Start-WFHost
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