Rotate the annuli to align the letters of related words.
The first puzzle:
The second puzzle:
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First puzzle gives:
Bug, Fly, Bee, Ant
Second puzzle gives:
Toast, Broil, Crock, Stove, Whisk, Mixer, Spoon, Blend, Steam, Forks
I found the solution to the second puzzle by
looking at the X and the V. I looked at word starts that had an X as third letter (fox, fix, tox, mix, box) where the other word starts made sense as well. The V probably had an E afterwards which gave a fixed rotation between the inner two rings. From there I noticed "stove" which gave the solution.