diff --git a/wp-includes/user.php b/wp-includes/user.php
index 4404a4b90b..bf9472d8cf 100644
--- a/wp-includes/user.php
+++ b/wp-includes/user.php
@@ -1812,7 +1812,7 @@ function wp_insert_user( $userdata ) {
 	}
 
 	if ( $update ) {
-		if ( $user_email !== $old_user_data->user_email ) {
+		if ( $user_email !== $old_user_data->user_email || $user_pass !== $old_user_data->user_pass ) {
 			$data['user_activation_key'] = '';
 		}
 		$wpdb->update( $wpdb->users, $data, compact( 'ID' ) );
diff --git a/wp-includes/version.php b/wp-includes/version.php
index 6d4fcc6bac..4da7817f1a 100644
--- a/wp-includes/version.php
+++ b/wp-includes/version.php
@@ -13,7 +13,7 @@
  *
  * @global string $wp_version
  */
-$wp_version = '5.5-alpha-47633';
+$wp_version = '5.5-alpha-47634';
 
 /**
  * Holds the WordPress DB revision, increments when changes are made to the WordPress DB schema.