Yes, I often find that when I revisit a game it's much less difficult than I remember. Generally, the longer it's been since I played, the easier it seems. I think it's mostly due to the fact that since playing those games, I've become a more experienced gamer.
When I first played through ALttP I was little, and very bad at video games. It was difficult for me, and it took me several years to actually beat it. I recall almost everything being difficult - the enemies, the puzzles, traversing the dungeons. Then, several years after I beat it I'd got a copy of the GBA version. It was much easier than I remembered, I was shocked at how quickly I was making my way through, and the hardest puzzles I remembered in the game were easy as pie.
Experience playing the Zelda series in general also probably has something to do with it. Several series, including Zelda, re-use certain kinds of enemies and puzzles, and if you found trouble the first time it's mostly a matter of practice before you're good at fighting/solving them. Block pushing puzzles were especially like this for me, those gave me heaps of trouble in ALttP, but over time they've become easy to solve. You learn good strategies for fighting, and you're used to solving the kinds of puzzles within the game, so if these skills are needed again in another game, you're more prepared.