diff --git a/esphome/components/captive_portal/__init__.py b/esphome/components/captive_portal/__init__.py
index f024c94b01..b41095304e 100644
--- a/esphome/components/captive_portal/__init__.py
+++ b/esphome/components/captive_portal/__init__.py
@@ -1,8 +1,9 @@
 import esphome.codegen as cg
 import esphome.config_validation as cv
+import esphome.final_validate as fv
 from esphome.components import web_server_base
 from esphome.components.web_server_base import CONF_WEB_SERVER_BASE_ID
-from esphome.const import CONF_ID
+from esphome.const import CONF_ID, CONF_NETWORKS, CONF_PASSWORD, CONF_SSID, CONF_WIFI
 from esphome.core import coroutine_with_priority, CORE
 
 AUTO_LOAD = ["web_server_base"]
@@ -12,6 +13,7 @@ CODEOWNERS = ["@OttoWinter"]
 captive_portal_ns = cg.esphome_ns.namespace("captive_portal")
 CaptivePortal = captive_portal_ns.class_("CaptivePortal", cg.Component)
 
+CONF_KEEP_USER_CREDENTIALS = "keep_user_credentials"
 CONFIG_SCHEMA = cv.All(
     cv.Schema(
         {
@@ -19,12 +21,29 @@ CONFIG_SCHEMA = cv.All(
             cv.GenerateID(CONF_WEB_SERVER_BASE_ID): cv.use_id(
                 web_server_base.WebServerBase
             ),
+            cv.Optional(CONF_KEEP_USER_CREDENTIALS, default=False): cv.boolean,
         }
     ).extend(cv.COMPONENT_SCHEMA),
     cv.only_with_arduino,
 )
 
 
+def validate_wifi(config):
+    wifi_conf = fv.full_config.get()[CONF_WIFI]
+    if config.get(CONF_KEEP_USER_CREDENTIALS, False) and (
+        CONF_SSID in wifi_conf
+        or CONF_PASSWORD in wifi_conf
+        or CONF_NETWORKS in wifi_conf
+    ):
+        raise cv.Invalid(
+            f"WiFi credentials cannot be used together with {CONF_KEEP_USER_CREDENTIALS}"
+        )
+    return config
+
+
+FINAL_VALIDATE_SCHEMA = validate_wifi
+
+
 @coroutine_with_priority(64.0)
 async def to_code(config):
     paren = await cg.get_variable(config[CONF_WEB_SERVER_BASE_ID])
@@ -38,3 +57,6 @@ async def to_code(config):
         cg.add_library("WiFi", None)
     if CORE.is_esp8266:
         cg.add_library("DNSServer", None)
+
+    if config.get(CONF_KEEP_USER_CREDENTIALS, False):
+        cg.add_define("USE_CAPTIVE_PORTAL_KEEP_USER_CREDENTIALS")
diff --git a/esphome/components/wifi/wifi_component.cpp b/esphome/components/wifi/wifi_component.cpp
index 37f5276c8f..0103106222 100644
--- a/esphome/components/wifi/wifi_component.cpp
+++ b/esphome/components/wifi/wifi_component.cpp
@@ -38,7 +38,11 @@ void WiFiComponent::setup() {
   this->last_connected_ = millis();
   this->wifi_pre_setup_();
 
+#ifndef USE_CAPTIVE_PORTAL_KEEP_USER_CREDENTIALS
   uint32_t hash = fnv1_hash(App.get_compilation_time());
+#else
+  uint32_t hash = 88491487UL;
+#endif
   this->pref_ = global_preferences->make_preference<wifi::SavedWifiSettings>(hash, true);
 
   SavedWifiSettings save{};