diff --git a/news/14232.bugfix.rst b/news/14232.bugfix.rst
new file mode 100644
index 0000000000..aab7c8a6a8
--- /dev/null
+++ b/news/14232.bugfix.rst
@@ -0,0 +1 @@
+Prevent wheel cache origin mismatch warnings from exposing URL credentials.
diff --git a/src/pip/_internal/cache.py b/src/pip/_internal/cache.py
index 462231a36e..0a69a45240 100644
--- a/src/pip/_internal/cache.py
+++ b/src/pip/_internal/cache.py
@@ -269,6 +269,7 @@ def get_cache_entry(
     @staticmethod
     def record_download_origin(cache_dir: str, download_info: DirectUrl) -> None:
         origin_path = Path(cache_dir) / ORIGIN_JSON_NAME
+        download_url = download_info.to_dict_compat()["url"]
         if origin_path.exists():
             try:
                 origin = DirectUrl.from_json(origin_path.read_text(encoding="utf-8"))
@@ -282,13 +283,14 @@ def record_download_origin(cache_dir: str, download_info: DirectUrl) -> None:
             else:
                 # TODO: use DirectUrl.equivalent when
                 # https://github.com/pypa/pip/pull/10564 is merged.
-                if origin.url != download_info.url:
+                origin_url = origin.to_dict_compat()["url"]
+                if origin_url != download_url:
                     logger.warning(
                         "Origin URL %s in cache entry %s does not match download URL "
                         "%s. This is likely a pip bug or a cache corruption issue. "
                         "Will overwrite it with the new value.",
-                        origin.url,
+                        origin_url,
                         cache_dir,
-                        download_info.url,
+                        download_url,
                     )
         origin_path.write_text(download_info.to_json(), encoding="utf-8")
diff --git a/tests/unit/test_cache.py b/tests/unit/test_cache.py
index 2458fc798a..f9f3d284dd 100644
--- a/tests/unit/test_cache.py
+++ b/tests/unit/test_cache.py
@@ -7,6 +7,7 @@
 from pip._vendor.packaging.tags import Tag, interpreter_name, interpreter_version
 
 from pip._internal.cache import SimpleWheelCache, WheelCache, _hash_dict
+from pip._internal.models.direct_url import ArchiveInfo, DirectUrl
 from pip._internal.models.link import Link
 from pip._internal.utils.misc import ensure_dir
 from pip._internal.utils.urls import path_to_url
@@ -152,3 +153,40 @@ def test_wheel_cache_entry_none_for_existing_directory(tmpdir: Path) -> None:
 
     assert wc.get_cache_entry(link, "example", supported_tags) is None
     assert wc.get(link, "example", supported_tags) is link
+
+
+def test_record_download_origin_ignores_stripped_auth_difference(
+    tmp_path: Path, caplog: pytest.LogCaptureFixture
+) -> None:
+    download_info = DirectUrl(
+        url="https://user:secret@example.com/pkg.tar.gz",
+        archive_info=ArchiveInfo(),
+    )
+
+    WheelCache.record_download_origin(str(tmp_path), download_info)
+    WheelCache.record_download_origin(str(tmp_path), download_info)
+
+    assert caplog.records == []
+
+
+def test_record_download_origin_redacts_auth_from_warning(
+    tmp_path: Path, caplog: pytest.LogCaptureFixture
+) -> None:
+    old_info = DirectUrl(
+        url="https://old-user:old-secret@old.example/pkg.tar.gz",
+        archive_info=ArchiveInfo(),
+    )
+    new_info = DirectUrl(
+        url="https://new-user:new-secret@new.example/pkg.tar.gz",
+        archive_info=ArchiveInfo(),
+    )
+    WheelCache.record_download_origin(str(tmp_path), old_info)
+
+    WheelCache.record_download_origin(str(tmp_path), new_info)
+
+    assert len(caplog.records) == 1
+    message = caplog.records[0].getMessage()
+    assert "old-secret" not in message
+    assert "new-secret" not in message
+    assert "https://old.example/pkg.tar.gz" in message
+    assert "https://new.example/pkg.tar.gz" in message