How do I reset the correct time on this watch?
That depends on the make / model of the watch.
Most mechanical watches, and some battery operated analog watches have a knob that can be pulled out half way, to set the date, and all the way, to set the time.
Most digital watches have at least two buttons: one (I'll call "A") for setting the mode, and "B" for incrementing some value.
Typically, one presses A briefly, to cycle the display through "clock, calendar, alarm, chronometer etc".
By holding A for a few seconds, likely, something will start to flash. This indicates setting mode. Pressing A briefly again, will cycle through seconds, minutes, hours, day of month, month, and possibly year. (perhaps in opposite order). Pressing B will increment whatever number is flashing. Holding A again, will save any changes, and return the watch to normal mode.
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