1Password has an Apple Watch app, and you can choose the passwords you want to have on your watch. With a PIN on the watch that locks it when taken off one's wrist, I'm pretty happy with that sort of security.

Another step would be a extra 1Password pin, of some other kind of something you know code. A 4 pad touch screen that could use a combination of short press, long press, force-touch press as a combination would be pretty cool, come to think of it.