Submerge the octopus in a large pot of boiling water for 5 minutes. Drain and let them cool. Cut the tentacles and center section into 2-inch lengths or chunks and reserve.
In a large pot, add the olive oil. When the oil is hot add the onions, garlic and bay leaves. Fry the vegetables in the oil for 3 to 4 minutes, or until slightly wilted. Add the chorizo and continue to cook for 2 to 3 minutes. Deglaze the pan with the wine. Bring the liquid up to a boil and reduce by half, about 1 to 2 minutes. Stir in the tomatoes. Season with salt and pepper. Add the potatoes, chickpeas, reserved octopus, and stock. Bring the liquid up to a boil and reduce to a simmer. Simmer the stew for about 2 hours on low heat. Stir in the crushed red pepper, fresh coriander and parsley. Season with salt and pepper. Line the individual bowls with crusty bread. Ladle the stew over the bread and serve.