How to completely reset/erase the keyring?

On Ubuntu 13.10 or later:

rm ~/.local/share/keyrings -fr

Next time, when setup your keyring question appears just don't setup any.

Open ~/.gnome2/keyrings/, remove all the files there that end with .keyring.

Next time keyring shows up for any reason do not enter a password for it and verify that you want to use unsafe storage. Keyring will still save your passwords and will not ask you again for a password.

Another option is to disable keyring so the deamon does not run but then you wont have keyring saving your passwords for you common programs.