diff --git a/changelogs/fragments/11926-crypttab-fix-opts-equal-sign.yml b/changelogs/fragments/11926-crypttab-fix-opts-equal-sign.yml
new file mode 100644
index 0000000000..3f0e202814
--- /dev/null
+++ b/changelogs/fragments/11926-crypttab-fix-opts-equal-sign.yml
@@ -0,0 +1,2 @@
+bugfixes:
+  - crypttab - fix parsing of options whose value contains an equal sign (https://github.com/ansible-collections/community.general/issues/4963, https://github.com/ansible-collections/community.general/pull/11926).
diff --git a/plugins/modules/crypttab.py b/plugins/modules/crypttab.py
index d64570ca48..55d9e6ea0d 100644
--- a/plugins/modules/crypttab.py
+++ b/plugins/modules/crypttab.py
@@ -281,7 +281,7 @@ class Options(dict):
         self.itemlist = []
         if opts_string is not None:
             for opt in opts_string.split(","):
-                kv = opt.split("=")
+                kv = opt.split("=", 1)
                 if len(kv) > 1:
                     k, v = (kv[0], kv[1])
                 else: