Your can turn on the option to be notified if any app accesses your clipboard however.
It's ridiculous anyone would think this 'feature' is a good idea. Every app on the phone can access the clipboard, making any passwords or sensitive information available. Any new cut or copy should overwrite the previous content. Having to manually delete the history is insane.
For those saying they don't use copy paste for passwords... your passwords aren't strong enough if you can just type them in. Additionally, key loggers will capture keystrokes, but not usually copied or auto-filled passwords.
I just got this s22 ultra a few days ago and was horrified to see passwords in the clipboard and appearing in the suggested words while typing. I think this is enough for me to return this phone and go with the Pixel. It's a shame as the integration between Samsung devices is so good.
Android 12 introduced the setting to "Alert when clipboard accessed" with a short toast notification as mentioned above, but it's disabled by default (in my S23+).
Android 13 introduced the ability to delete sensitive data from the clipboard history after 60 minutes automatically - but sadly Samsung did not make it available in OneUI 5. The request was noted:
(Maybe OneUI 6 Beta / Android 14 is different, but I am no beta tester to verify.)
Since I do not even use the Samsung Keyboard, it's a bit bumpy to access and clear the clipboard history manually in OneUI 5.
a) Switch the active keyboard to Samsung, clean up, switch back... or
b) Activate the Edge Panel "clipboard", that has a "clear" button.
Also, if you use a password vault app like bitwarden, you should not copy&paste the passwords, but use the android autofill framework. Passwords transferred this way should not end up in the clipboard history.