There are a lot of variables in your question.
Many springs, like folder springs, have to "wear in", not due to any internal change, but due to needing the mating surfaces to burnish until they slide back and forth easily. Friction is added to the spring energy. Thus, a new folder may seem stiff ( spring plus friction), but after a few hundred opening/closing cycles,the spring seems less strong. In truth, the spring is the same, it is the friction of the spring and blade that has been reduced. Oil helps both the wear in as well as to reduce the friction. The better the polish and flatness of the mating surfaces, the less friction there is to counter. Proper hardness matters a lot here,too.
The basic mechanism of a spring loosening its "Springiness" is the changes in the grains and boundaries in the steel. If the spring is heated to a high enough temperature ,we all understand that the spring will loose some strength. What is not always understood is that heat energy isn't the only energy that can make changes in the grains. Kinetic energy can also make changes. Grains can re-crystallize at room temperature if enough energy is added. This makes larger grains. This often is called work hardening. Bending a coat hanger back and forth is the common example. It gets hot due to the grains growing, changing, and the molecular friction caused when they shear. The larger grains make the metal more brittle, and starts shearing the grain boundaries. It isn't the heat that makes the change, it is the change that makes the heat. As the grains change, and start to become more brittle, this causes fractures to form. A few micro-fractures, and there is little change. A few more, and the spring gets weaker ( just as the hanger bends easier), a lot more, and it fails catastrophically ( breaks).
The funny thing about all this is that the metal in the spring is actually getting stiffer as the grains grow, but the shearing makes for less physical attachments between the grins, so the spring gets weaker.