Through First-Principles real-time Density-Matrix (FPDM) dynamics simulations, we investigate spin relaxation due to electron-phonon and electron-impurity scatterings with spinorbit coupling in two-dimensional Dirac materials -silicene and germanene, at finite temperatures and under external fields. We discussed the applicability of conventional descriptions of spin relaxation mechanisms by Elliott-Yafet (EY) and D'yakonov-Perel' (DP) compared to our FPDM method, which is determined by a complex interplay of intrinsic spin-orbit coupling, external fields, and electron-phonon coupling strength, beyond crystal symmetry. For example, the electric field dependence of spin relaxation time is close to DP mechanism for silicene at room temperature, but rather similar to EY mechanism for germanene. Due to its stronger spin-orbit coupling strength and buckled structure in sharp contrast to graphene, germanene has a giant spin lifetime anisotropy and spin valley locking effect under nonzero E z and relatively low temperature. More importantly, germanene has extremely long spin lifetime (∼100 ns at 50 K) and ultrahigh carrier mobility, which makes it advantageous for spin-valleytronic applications.