diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/context/properties/ConfigurationPropertiesReportEndpointAutoConfiguration.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/context/properties/ConfigurationPropertiesReportEndpointAutoConfiguration.java
index e620eba1d7..8c029bfb6b 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/context/properties/ConfigurationPropertiesReportEndpointAutoConfiguration.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/context/properties/ConfigurationPropertiesReportEndpointAutoConfiguration.java
@@ -16,6 +16,8 @@
 
 package org.springframework.boot.actuate.autoconfigure.context.properties;
 
+import java.util.stream.Collectors;
+
 import org.springframework.beans.factory.ObjectProvider;
 import org.springframework.boot.actuate.autoconfigure.endpoint.condition.ConditionalOnAvailableEndpoint;
 import org.springframework.boot.actuate.autoconfigure.endpoint.expose.EndpointExposure;
@@ -48,7 +50,8 @@ public class ConfigurationPropertiesReportEndpointAutoConfiguration {
 	public ConfigurationPropertiesReportEndpoint configurationPropertiesReportEndpoint(
 			ConfigurationPropertiesReportEndpointProperties properties,
 			ObjectProvider<SanitizingFunction> sanitizingFunctions) {
-		ConfigurationPropertiesReportEndpoint endpoint = new ConfigurationPropertiesReportEndpoint(sanitizingFunctions);
+		ConfigurationPropertiesReportEndpoint endpoint = new ConfigurationPropertiesReportEndpoint(
+				sanitizingFunctions.orderedStream().collect(Collectors.toList()));
 		String[] keysToSanitize = properties.getKeysToSanitize();
 		if (keysToSanitize != null) {
 			endpoint.setKeysToSanitize(keysToSanitize);
diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfiguration.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfiguration.java
index 570b81e594..e6af2bc2f6 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfiguration.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/main/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfiguration.java
@@ -16,6 +16,8 @@
 
 package org.springframework.boot.actuate.autoconfigure.env;
 
+import java.util.stream.Collectors;
+
 import org.springframework.beans.factory.ObjectProvider;
 import org.springframework.boot.actuate.autoconfigure.endpoint.condition.ConditionalOnAvailableEndpoint;
 import org.springframework.boot.actuate.autoconfigure.endpoint.expose.EndpointExposure;
@@ -46,7 +48,8 @@ public class EnvironmentEndpointAutoConfiguration {
 	@ConditionalOnMissingBean
 	public EnvironmentEndpoint environmentEndpoint(Environment environment, EnvironmentEndpointProperties properties,
 			ObjectProvider<SanitizingFunction> sanitizingFunctions) {
-		EnvironmentEndpoint endpoint = new EnvironmentEndpoint(environment, sanitizingFunctions);
+		EnvironmentEndpoint endpoint = new EnvironmentEndpoint(environment,
+				sanitizingFunctions.orderedStream().collect(Collectors.toList()));
 		String[] keysToSanitize = properties.getKeysToSanitize();
 		if (keysToSanitize != null) {
 			endpoint.setKeysToSanitize(keysToSanitize);
diff --git a/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfigurationTests.java b/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfigurationTests.java
index 467e77f5f1..fcecb19dab 100644
--- a/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfigurationTests.java
+++ b/spring-boot-project/spring-boot-actuator-autoconfigure/src/test/java/org/springframework/boot/actuate/autoconfigure/env/EnvironmentEndpointAutoConfigurationTests.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2012-2021 the original author or authors.
+ * Copyright 2012-2022 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -82,7 +82,7 @@ class EnvironmentEndpointAutoConfigurationTests {
 					Map<String, PropertyValueDescriptor> systemProperties = getSource("systemProperties", env)
 							.getProperties();
 					assertThat(systemProperties.get("custom").getValue()).isEqualTo("$$$");
-					assertThat(systemProperties.get("password").getValue()).isEqualTo("******");
+					assertThat(systemProperties.get("password").getValue()).isEqualTo("$$$");
 				});
 	}
 
diff --git a/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/endpoint/Sanitizer.java b/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/endpoint/Sanitizer.java
index cc5c2b941b..02e3ac96bc 100644
--- a/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/endpoint/Sanitizer.java
+++ b/spring-boot-project/spring-boot-actuator/src/main/java/org/springframework/boot/actuate/endpoint/Sanitizer.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2012-2021 the original author or authors.
+ * Copyright 2012-2022 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -184,13 +184,18 @@ public class Sanitizer {
 	 * @since 2.6.0
 	 */
 	public Object sanitize(SanitizableData data) {
-		if (data.getValue() == null) {
+		Object value = data.getValue();
+		if (value == null) {
 			return null;
 		}
 		for (SanitizingFunction sanitizingFunction : this.sanitizingFunctions) {
 			data = sanitizingFunction.apply(data);
+			Object sanitizedValue = data.getValue();
+			if (!value.equals(sanitizedValue)) {
+				return sanitizedValue;
+			}
 		}
-		return data.getValue();
+		return value;
 	}
 
 	private boolean keyIsUriWithUserInfo(Pattern pattern) {
diff --git a/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/context/properties/ConfigurationPropertiesReportEndpointTests.java b/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/context/properties/ConfigurationPropertiesReportEndpointTests.java
index b98c72b311..69f533593b 100644
--- a/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/context/properties/ConfigurationPropertiesReportEndpointTests.java
+++ b/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/context/properties/ConfigurationPropertiesReportEndpointTests.java
@@ -293,7 +293,7 @@ class ConfigurationPropertiesReportEndpointTests {
 		new ApplicationContextRunner().withUserConfiguration(CustomSanitizingEndpointConfig.class,
 				SanitizingFunctionConfiguration.class, TestPropertiesConfiguration.class)
 				.run(assertProperties("test", (properties) -> {
-					assertThat(properties.get("dbPassword")).isEqualTo("******");
+					assertThat(properties.get("dbPassword")).isEqualTo("$$$");
 					assertThat(properties.get("myTestProperty")).isEqualTo("$$$");
 				}));
 	}
diff --git a/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/endpoint/SanitizerTests.java b/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/endpoint/SanitizerTests.java
index 7d30f24c0b..a29771f058 100644
--- a/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/endpoint/SanitizerTests.java
+++ b/spring-boot-project/spring-boot-actuator/src/test/java/org/springframework/boot/actuate/endpoint/SanitizerTests.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2012-2021 the original author or authors.
+ * Copyright 2012-2022 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -16,7 +16,9 @@
 
 package org.springframework.boot.actuate.endpoint;
 
+import java.util.ArrayList;
 import java.util.Collections;
+import java.util.List;
 import java.util.stream.Stream;
 
 import org.junit.jupiter.api.Test;
@@ -87,6 +89,39 @@ class SanitizerTests {
 		assertThat(sanitizer.sanitize(hello)).isEqualTo("abc");
 	}
 
+	@Test
+	void overridingDefaultSanitizingFunction() {
+		Sanitizer sanitizer = new Sanitizer(Collections.singletonList((data) -> {
+			if (data.getKey().equals("password")) {
+				return data.withValue("------");
+			}
+			return data;
+		}));
+		SanitizableData password = new SanitizableData(null, "password", "123456");
+		assertThat(sanitizer.sanitize(password)).isEqualTo("------");
+	}
+
+	@Test
+	void whenValueSanitizedLaterSanitizingFunctionsShouldBeSkipped() {
+		final String sameKey = "custom";
+		List<SanitizingFunction> sanitizingFunctions = new ArrayList<>();
+		sanitizingFunctions.add((data) -> {
+			if (data.getKey().equals(sameKey)) {
+				return data.withValue("------");
+			}
+			return data;
+		});
+		sanitizingFunctions.add((data) -> {
+			if (data.getKey().equals(sameKey)) {
+				return data.withValue("******");
+			}
+			return data;
+		});
+		Sanitizer sanitizer = new Sanitizer(sanitizingFunctions);
+		SanitizableData custom = new SanitizableData(null, sameKey, "123456");
+		assertThat(sanitizer.sanitize(custom)).isEqualTo("------");
+	}
+
 	@ParameterizedTest(name = "key = {0}")
 	@MethodSource("matchingUriUserInfoKeys")
 	void uriWithSingleValueWithPasswordShouldBeSanitized(String key) {