diff --git a/src/core/execute.c b/src/core/execute.c
index 6595931809..5e327465da 100644
--- a/src/core/execute.c
+++ b/src/core/execute.c
@@ -2787,7 +2787,7 @@ static char **credential_search_path(
         if (DEBUG_LOGGING) {
                 _cleanup_free_ char *t = strv_join(l, ":");
 
-                log_debug("Credential search path is: %s", t);
+                log_debug("Credential search path is: %s", strempty(t));
         }
 
         return TAKE_PTR(l);