In Splunk Enterprise versions below 9.3.1, 9.2.3, and 9.1.6, the software potentially exposes plaintext passwords for local native authentication Splunk users. This exposure could happen when you configure the Splunk Enterprise AdminManager log channel at the DEBUG logging level.
https://research.splunk.com/application/93dc7182-c5da-4085-82ec-401abf33d623/