In one of the file the password seems to be present and the same has been getting ingested into Splunk. So is there any way to hash the password for that field so that it wont be visible in Splunk during searching eventhough it is present in the logs.
I don't think it is possible, but I can suggest a workaround:
You can mask passwords with SEDCMD command during the ingestion and send it to one index and send unmodified events into other index, which can be accessed by you only.
Let me know if it solves your question. If not - try to describe your use case so may be somebody can give your better solution.