diff --git a/toolchain/check/check.cpp b/toolchain/check/check.cpp
index b9f0023d2bd3..a52f32aab27c 100644
--- a/toolchain/check/check.cpp
+++ b/toolchain/check/check.cpp
@@ -487,7 +487,7 @@ auto CheckParseTrees(
     auto* unit_info = ready_to_check[check_index];
     CheckUnit(unit_info, &tree_and_subtrees_getters, fs,
               unit_info->unit->llvm_context, clang_invocation,
-              options.vlog_stream)
+              options.vlog_stream, options.mangle_string_fingerprint)
         .Run();
     for (auto* incoming_import : unit_info->incoming_imports) {
       --incoming_import->imports_remaining;
@@ -537,7 +537,7 @@ auto CheckParseTrees(
       if (unit_info.imports_remaining > 0) {
         CheckUnit(&unit_info, &tree_and_subtrees_getters, fs,
                   unit_info.unit->llvm_context, clang_invocation,
-                  options.vlog_stream)
+                  options.vlog_stream, options.mangle_string_fingerprint)
             .Run();
       }
     }
diff --git a/toolchain/check/check.h b/toolchain/check/check.h
index 22696d9e1088..668f2962b113 100644
--- a/toolchain/check/check.h
+++ b/toolchain/check/check.h
@@ -75,6 +75,10 @@ struct CheckParseTreesOptions {
   // If not empty, a raw SemIR dump should be written to this path in the event
   // of a crash.
   llvm::StringRef sem_ir_crash_dump;
+
+  // Whether to use the string form of the fingerprint from mangling instead of
+  // the hash form.
+  bool mangle_string_fingerprint = false;
 };
 
 // Checks a group of parse trees. This will use imports to decide the order of
diff --git a/toolchain/check/check_unit.cpp b/toolchain/check/check_unit.cpp
index 55f3ebb375dc..c4394b8109e3 100644
--- a/toolchain/check/check_unit.cpp
+++ b/toolchain/check/check_unit.cpp
@@ -63,7 +63,7 @@ CheckUnit::CheckUnit(
     llvm::IntrusiveRefCntPtr<llvm::vfs::FileSystem> fs,
     llvm::LLVMContext* llvm_context,
     std::shared_ptr<clang::CompilerInvocation> clang_invocation,
-    llvm::raw_ostream* vlog_stream)
+    llvm::raw_ostream* vlog_stream, bool mangle_string_fingerprint)
     : unit_and_imports_(unit_and_imports),
       tree_and_subtrees_getter_(tree_and_subtrees_getters->Get(
           unit_and_imports->unit->sem_ir->check_ir_id())),
@@ -75,7 +75,8 @@ CheckUnit::CheckUnit(
       context_(&emitter_, tree_and_subtrees_getter_,
                unit_and_imports_->unit->sem_ir,
                GetImportedIRCount(unit_and_imports),
-               unit_and_imports_->unit->total_ir_count, vlog_stream) {}
+               unit_and_imports_->unit->total_ir_count, vlog_stream,
+               mangle_string_fingerprint) {}
 
 auto CheckUnit::Run() -> void {
   Timings::ScopedTiming timing(unit_and_imports_->unit->timings, "check");
diff --git a/toolchain/check/check_unit.h b/toolchain/check/check_unit.h
index 5c937c520d99..d961c81dd8cd 100644
--- a/toolchain/check/check_unit.h
+++ b/toolchain/check/check_unit.h
@@ -129,7 +129,7 @@ class CheckUnit {
       llvm::IntrusiveRefCntPtr<llvm::vfs::FileSystem> fs,
       llvm::LLVMContext* llvm_context,
       std::shared_ptr<clang::CompilerInvocation> clang_invocation,
-      llvm::raw_ostream* vlog_stream);
+      llvm::raw_ostream* vlog_stream, bool mangle_string_fingerprint = false);
 
   // Produces and checks the IR for the provided unit.
   auto Run() -> void;
diff --git a/toolchain/check/context.cpp b/toolchain/check/context.cpp
index 324b8cb272a3..a14a940e2f08 100644
--- a/toolchain/check/context.cpp
+++ b/toolchain/check/context.cpp
@@ -17,7 +17,7 @@ namespace Carbon::Check {
 Context::Context(DiagnosticEmitterBase* emitter,
                  Parse::GetTreeAndSubtreesFn tree_and_subtrees_getter,
                  SemIR::File* sem_ir, int imported_ir_count, int total_ir_count,
-                 llvm::raw_ostream* vlog_stream)
+                 llvm::raw_ostream* vlog_stream, bool mangle_string_fingerprint)
     : emitter_(emitter),
       tree_and_subtrees_getter_(tree_and_subtrees_getter),
       sem_ir_(sem_ir),
@@ -39,7 +39,8 @@ Context::Context(DiagnosticEmitterBase* emitter,
       region_stack_([this](SemIR::LocId loc_id, std::string label) {
         TODO(loc_id, label);
       }),
-      core_identifiers_(&identifiers()) {
+      core_identifiers_(&identifiers()),
+      mangle_string_fingerprint_(mangle_string_fingerprint) {
   // Prepare fields which relate to the number of IRs available for import.
   import_irs().Reserve(imported_ir_count);
   import_ir_constant_values_.reserve(imported_ir_count);
diff --git a/toolchain/check/context.h b/toolchain/check/context.h
index c01f94ed5c61..cdab6891f5dd 100644
--- a/toolchain/check/context.h
+++ b/toolchain/check/context.h
@@ -61,7 +61,8 @@ class Context {
   explicit Context(DiagnosticEmitterBase* emitter,
                    Parse::GetTreeAndSubtreesFn tree_and_subtrees_getter,
                    SemIR::File* sem_ir, int imported_ir_count,
-                   int total_ir_count, llvm::raw_ostream* vlog_stream);
+                   int total_ir_count, llvm::raw_ostream* vlog_stream,
+                   bool mangle_string_fingerprint = false);
 
   // Marks an implementation TODO. Always returns false.
   auto TODO(SemIR::LocId loc_id, std::string label) -> bool;
@@ -398,6 +399,9 @@ class Context {
   auto constants() -> SemIR::ConstantStore& { return sem_ir().constants(); }
   auto bundles() -> SemIR::BundleStore& { return sem_ir().bundles(); }
   auto total_ir_count() const -> int { return total_ir_count_; }
+  auto mangle_string_fingerprint() const -> bool {
+    return mangle_string_fingerprint_;
+  }
 
   // --------------------------------------------------------------------------
   // End of SemIR::File members.
@@ -557,6 +561,8 @@ class Context {
 
   // See `CoreIdentifierCache` for details.
   CoreIdentifierCache core_identifiers_;
+
+  bool mangle_string_fingerprint_;
 };
 
 inline constexpr Context::FormExpr Context::FormExpr::Error = {
diff --git a/toolchain/check/cpp/export.cpp b/toolchain/check/cpp/export.cpp
index 96db62126188..e92d221a1615 100644
--- a/toolchain/check/cpp/export.cpp
+++ b/toolchain/check/cpp/export.cpp
@@ -480,7 +480,8 @@ static auto BuildCppFunctionDeclForCarbonFn(Context& context,
   function_decl->setParams(param_var_decls);
 
   // Mangle the function name and attach it to the `FunctionDecl`.
-  SemIR::Mangler m(context.sem_ir(), context.total_ir_count());
+  SemIR::Mangler m(context.sem_ir(), context.total_ir_count(),
+                   context.mangle_string_fingerprint());
   std::string mangled_name = m.Mangle(function_id, SemIR::SpecificId::None);
   function_decl->addAttr(
       clang::AsmLabelAttr::Create(context.ast_context(), mangled_name));
diff --git a/toolchain/driver/compile_subcommand.cpp b/toolchain/driver/compile_subcommand.cpp
index 0c3b7a1b8163..1b627d14676d 100644
--- a/toolchain/driver/compile_subcommand.cpp
+++ b/toolchain/driver/compile_subcommand.cpp
@@ -391,6 +391,14 @@ in the check phase. If empty, the dump is not written.
 )""",
       },
       [&](auto& arg_b) { arg_b.Set(&sem_ir_crash_dump); });
+  b.AddFlag(
+      {
+          .name = "mangle-string-fingerprint",
+          .help = R"""(
+Use the string form of the fingerprint from mangling instead of the hash form.
+)""",
+      },
+      [&](auto& arg_b) { arg_b.Set(&mangle_string_fingerprint); });
 }
 
 static constexpr CommandLine::CommandInfo SubcommandInfo = {
@@ -821,6 +829,7 @@ auto CompilationUnit::RunLower() -> void {
     options.want_debug_info = options_->include_debug_info;
     options.vlog_stream = vlog_stream_;
     options.opt_level = options_->opt_level;
+    options.mangle_string_fingerprint = options_->mangle_string_fingerprint;
     module_ = Lower::LowerToLLVM(*llvm_context_, driver_env_->fs,
                                  cache_->tree_and_subtrees_getters(), *sem_ir_,
                                  total_ir_count_, options);
@@ -1260,6 +1269,7 @@ auto CompileSubcommand::Run(DriverEnv& driver_env) -> DriverResult {
   options.prelude_import = options_.prelude_import;
   options.vlog_stream = driver_env.vlog_stream;
   options.fuzzing = driver_env.fuzzing;
+  options.mangle_string_fingerprint = options_.mangle_string_fingerprint;
   if (options.vlog_stream || options_.dump_sem_ir || options_.dump_cpp_ast ||
       options_.dump_raw_sem_ir) {
     options.include_in_dumps = &cache.include_in_dumps();
diff --git a/toolchain/driver/compile_subcommand.h b/toolchain/driver/compile_subcommand.h
index aee3765be4da..c1042c990e4d 100644
--- a/toolchain/driver/compile_subcommand.h
+++ b/toolchain/driver/compile_subcommand.h
@@ -71,6 +71,8 @@ struct CompileOptions {
   llvm::SmallVector<llvm::StringRef> exclude_dump_file_prefixes;
 
   llvm::StringRef sem_ir_crash_dump;
+
+  bool mangle_string_fingerprint = false;
 };
 
 // Implements the compile subcommand of the driver.
diff --git a/toolchain/lower/context.cpp b/toolchain/lower/context.cpp
index 8e1e6f9f7989..37d0b5db6deb 100644
--- a/toolchain/lower/context.cpp
+++ b/toolchain/lower/context.cpp
@@ -20,7 +20,7 @@ Context::Context(
     const Parse::GetTreeAndSubtreesStore* tree_and_subtrees_getters,
     clang::CodeGenerator* clang_code_generator, llvm::StringRef module_name,
     int total_ir_count, Lower::OptimizationLevel opt_level,
-    llvm::raw_ostream* vlog_stream)
+    bool mangle_string_fingerprint, llvm::raw_ostream* vlog_stream)
     : llvm_context_(llvm_context),
       clang_code_generator_(clang_code_generator),
       llvm_module_owner_(
@@ -39,6 +39,7 @@ Context::Context(
       tree_and_subtrees_getters_(tree_and_subtrees_getters),
       vlog_stream_(vlog_stream),
       total_ir_count_(total_ir_count),
+      mangle_string_fingerprint_(mangle_string_fingerprint),
       file_contexts_(
           FileContextStore::MakeForOverwriteWithExplicitSize(total_ir_count_)) {
 }
diff --git a/toolchain/lower/context.h b/toolchain/lower/context.h
index cdd90288b4fa..74819ed6f8f5 100644
--- a/toolchain/lower/context.h
+++ b/toolchain/lower/context.h
@@ -51,7 +51,7 @@ class Context {
       const Parse::GetTreeAndSubtreesStore* tree_and_subtrees_getters,
       clang::CodeGenerator* code_generator, llvm::StringRef module_name,
       int total_ir_count, Lower::OptimizationLevel opt_level,
-      llvm::raw_ostream* vlog_stream);
+      bool mangle_string_fingerprint, llvm::raw_ostream* vlog_stream);
 
   // Gets or creates the `FileContext` for a given SemIR file. If an
   // `inst_namer` is specified the first time this is called for a file, it will
@@ -124,6 +124,9 @@ class Context {
     return *tree_and_subtrees_getters_;
   }
   auto total_ir_count() -> int { return total_ir_count_; }
+  auto mangle_string_fingerprint() const -> bool {
+    return mangle_string_fingerprint_;
+  }
 
   auto printf_int_format_string() -> llvm::Value* {
     return printf_int_format_string_;
@@ -171,6 +174,9 @@ class Context {
   // The total number of files.
   int total_ir_count_;
 
+  // Whether to use the string form of the fingerprint for mangling.
+  bool mangle_string_fingerprint_;
+
   // The `FileContext`s for each IR that is involved in this lowering action.
   using FileContextStore =
       FixedSizeValueStore<SemIR::CheckIRId, std::unique_ptr<FileContext>>;
diff --git a/toolchain/lower/file_context.cpp b/toolchain/lower/file_context.cpp
index af4f13493898..b30af36d07aa 100644
--- a/toolchain/lower/file_context.cpp
+++ b/toolchain/lower/file_context.cpp
@@ -322,7 +322,8 @@ auto FileContext::GetOrCreateLLVMFunction(
         sem_ir().clang_decls().Get(clang_decl_id).key.decl->getAsFunction());
   }
 
-  SemIR::Mangler m(sem_ir(), context().total_ir_count());
+  SemIR::Mangler m(sem_ir(), context().total_ir_count(),
+                   context().mangle_string_fingerprint());
   std::string mangled_name = m.Mangle(function_id, specific_id);
   if (auto* existing = llvm_module().getFunction(mangled_name)) {
     // We might have already lowered this function while lowering a different
@@ -691,7 +692,8 @@ auto FileContext::BuildGlobalVariableDecl(SemIR::VarStorage var_storage)
 
 auto FileContext::BuildNonCppGlobalVariableDecl(SemIR::VarStorage var_storage)
     -> llvm::GlobalVariable* {
-  SemIR::Mangler m(sem_ir(), context().total_ir_count());
+  SemIR::Mangler m(sem_ir(), context().total_ir_count(),
+                   context().mangle_string_fingerprint());
   auto mangled_name = m.MangleGlobalVariable(var_storage.pattern_id);
   auto linkage = llvm::GlobalVariable::ExternalLinkage;
 
@@ -726,7 +728,8 @@ auto FileContext::BuildVtable(const SemIR::Vtable& vtable,
   }
   const auto& class_info = sem_ir().classes().Get(vtable.class_id);
 
-  SemIR::Mangler m(sem_ir(), context().total_ir_count());
+  SemIR::Mangler m(sem_ir(), context().total_ir_count(),
+                   context().mangle_string_fingerprint());
   std::string mangled_name = m.MangleVTable(class_info, specific_id);
 
   if (sem_ir()
diff --git a/toolchain/lower/lower.cpp b/toolchain/lower/lower.cpp
index 7d61a3416379..5101dd3cf83c 100644
--- a/toolchain/lower/lower.cpp
+++ b/toolchain/lower/lower.cpp
@@ -25,7 +25,7 @@ auto LowerToLLVM(
       &tree_and_subtrees_getters,
       sem_ir.cpp_file() ? sem_ir.cpp_file()->GetCodeGenerator() : nullptr,
       sem_ir.filename(), total_ir_count, options.opt_level,
-      options.vlog_stream);
+      options.mangle_string_fingerprint, options.vlog_stream);
 
   // TODO: Consider disabling instruction naming by default if we're not
   // producing textual LLVM IR.
diff --git a/toolchain/lower/options.h b/toolchain/lower/options.h
index 8a1a8d822768..e5097a1db356 100644
--- a/toolchain/lower/options.h
+++ b/toolchain/lower/options.h
@@ -37,6 +37,9 @@ struct LowerToLLVMOptions {
 
   // The optimization level to set on lowered functions by default.
   OptimizationLevel opt_level = OptimizationLevel::Debug;
+
+  // Whether to use the string form of the fingerprint for mangling.
+  bool mangle_string_fingerprint = false;
 };
 
 }  // namespace Carbon::Lower
diff --git a/toolchain/lower/testdata/packages/imported_package_mangle_string.carbon b/toolchain/lower/testdata/packages/imported_package_mangle_string.carbon
new file mode 100644
index 000000000000..26a936280f8e
--- /dev/null
+++ b/toolchain/lower/testdata/packages/imported_package_mangle_string.carbon
@@ -0,0 +1,103 @@
+// Part of the Carbon Language project, under the Apache License v2.0 with LLVM
+// Exceptions. See /LICENSE for license information.
+// SPDX-License-Identifier: Apache-2.0 WITH LLVM-exception
+//
+// INCLUDE-FILE: toolchain/testing/testdata/min_prelude/int.carbon
+//
+// EXTRA-ARGS: --mangle-string-fingerprint
+//
+// AUTOUPDATE
+// TIP: To test this file alone, run:
+// TIP:   bazel test //toolchain/testing:file_test --test_arg=--file_tests=toolchain/lower/testdata/packages/imported_package_mangle_string.carbon
+// TIP: To dump output, run:
+// TIP:   bazel run //toolchain/testing:file_test -- --dump_output --file_tests=toolchain/lower/testdata/packages/imported_package_mangle_string.carbon
+
+// --- a.carbon
+package A;
+
+class C {}
+
+interface I {
+  fn F() {}
+}
+
+impl array(C, 1) as I {
+  fn F() {}
+}
+
+namespace N;
+class N.D;
+
+impl array(N.D, 1) as I {
+  fn F() {}
+}
+
+// --- b.carbon
+package B;
+import A;
+
+fn G() {
+  (array(A.C, 1) as A.I).F();
+  (array(A.N.D, 1) as A.I).F();
+}
+
+// CHECK:STDOUT: ; ModuleID = 'a.carbon'
+// CHECK:STDOUT: source_filename = "a.carbon"
+// CHECK:STDOUT:
+// CHECK:STDOUT: ; Function Attrs: nounwind
+// CHECK:STDOUT: define void @"_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,C,{namespace,{<namespace>},A,!invalid},!invalid}}:I.A"() #0 !dbg !4 {
+// CHECK:STDOUT: entry:
+// CHECK:STDOUT:   ret void, !dbg !7
+// CHECK:STDOUT: }
+// CHECK:STDOUT:
+// CHECK:STDOUT: ; Function Attrs: nounwind
+// CHECK:STDOUT: define void @"_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,D,{namespace,{<namespace>},N,{namespace,{<namespace>},A,!invalid},!invalid},!invalid}}:I.A"() #0 !dbg !8 {
+// CHECK:STDOUT: entry:
+// CHECK:STDOUT:   ret void, !dbg !9
+// CHECK:STDOUT: }
+// CHECK:STDOUT:
+// CHECK:STDOUT: attributes #0 = { nounwind }
+// CHECK:STDOUT:
+// CHECK:STDOUT: !llvm.module.flags = !{!0, !1}
+// CHECK:STDOUT: !llvm.dbg.cu = !{!2}
+// CHECK:STDOUT:
+// CHECK:STDOUT: !0 = !{i32 7, !"Dwarf Version", i32 5}
+// CHECK:STDOUT: !1 = !{i32 2, !"Debug Info Version", i32 3}
+// CHECK:STDOUT: !2 = distinct !DICompileUnit(language: DW_LANG_C_plus_plus, file: !3, producer: "carbon", isOptimized: false, runtimeVersion: 0, emissionKind: FullDebug)
+// CHECK:STDOUT: !3 = !DIFile(filename: "a.carbon", directory: "")
+// CHECK:STDOUT: !4 = distinct !DISubprogram(name: "F", linkageName: "_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,C,{namespace,{<namespace>},A,!invalid},!invalid}}:I.A", scope: null, file: !3, line: 10, type: !5, spFlags: DISPFlagDefinition, unit: !2)
+// CHECK:STDOUT: !5 = !DISubroutineType(types: !6)
+// CHECK:STDOUT: !6 = !{null}
+// CHECK:STDOUT: !7 = !DILocation(line: 10, column: 3, scope: !4)
+// CHECK:STDOUT: !8 = distinct !DISubprogram(name: "F", linkageName: "_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,D,{namespace,{<namespace>},N,{namespace,{<namespace>},A,!invalid},!invalid},!invalid}}:I.A", scope: null, file: !3, line: 17, type: !5, spFlags: DISPFlagDefinition, unit: !2)
+// CHECK:STDOUT: !9 = !DILocation(line: 17, column: 3, scope: !8)
+// CHECK:STDOUT: ; ModuleID = 'b.carbon'
+// CHECK:STDOUT: source_filename = "b.carbon"
+// CHECK:STDOUT:
+// CHECK:STDOUT: ; Function Attrs: nounwind
+// CHECK:STDOUT: define void @_CG.B() #0 !dbg !4 {
+// CHECK:STDOUT: entry:
+// CHECK:STDOUT:   call void @"_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,C,{namespace,{<namespace>},A,{import,!invalid,A}},!invalid}}:I.A"(), !dbg !7
+// CHECK:STDOUT:   call void @"_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,D,{namespace,{<namespace>},N,{namespace,{<namespace>},A,{import,!invalid,A}},!invalid},!invalid}}:I.A"(), !dbg !8
+// CHECK:STDOUT:   ret void, !dbg !9
+// CHECK:STDOUT: }
+// CHECK:STDOUT:
+// CHECK:STDOUT: declare void @"_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,C,{namespace,{<namespace>},A,{import,!invalid,A}},!invalid}}:I.A"()
+// CHECK:STDOUT:
+// CHECK:STDOUT: declare void @"_CF.{array_type,{int_value,{Core.IntLiteral},1},{class_type,D,{namespace,{<namespace>},N,{namespace,{<namespace>},A,{import,!invalid,A}},!invalid},!invalid}}:I.A"()
+// CHECK:STDOUT:
+// CHECK:STDOUT: attributes #0 = { nounwind }
+// CHECK:STDOUT:
+// CHECK:STDOUT: !llvm.module.flags = !{!0, !1}
+// CHECK:STDOUT: !llvm.dbg.cu = !{!2}
+// CHECK:STDOUT:
+// CHECK:STDOUT: !0 = !{i32 7, !"Dwarf Version", i32 5}
+// CHECK:STDOUT: !1 = !{i32 2, !"Debug Info Version", i32 3}
+// CHECK:STDOUT: !2 = distinct !DICompileUnit(language: DW_LANG_C_plus_plus, file: !3, producer: "carbon", isOptimized: false, runtimeVersion: 0, emissionKind: FullDebug)
+// CHECK:STDOUT: !3 = !DIFile(filename: "b.carbon", directory: "")
+// CHECK:STDOUT: !4 = distinct !DISubprogram(name: "G", linkageName: "_CG.B", scope: null, file: !3, line: 4, type: !5, spFlags: DISPFlagDefinition, unit: !2)
+// CHECK:STDOUT: !5 = !DISubroutineType(types: !6)
+// CHECK:STDOUT: !6 = !{null}
+// CHECK:STDOUT: !7 = !DILocation(line: 5, column: 3, scope: !4)
+// CHECK:STDOUT: !8 = !DILocation(line: 6, column: 3, scope: !4)
+// CHECK:STDOUT: !9 = !DILocation(line: 4, column: 1, scope: !4)
diff --git a/toolchain/sem_ir/inst_fingerprinter.cpp b/toolchain/sem_ir/inst_fingerprinter.cpp
index cbb88e699474..db38ded38c26 100644
--- a/toolchain/sem_ir/inst_fingerprinter.cpp
+++ b/toolchain/sem_ir/inst_fingerprinter.cpp
@@ -5,6 +5,7 @@
 #include "toolchain/sem_ir/inst_fingerprinter.h"
 
 #include <array>
+#include <optional>
 #include <utility>
 #include <variant>
 
@@ -23,49 +24,38 @@
 
 namespace Carbon::SemIR {
 
-namespace {
-struct Worklist {
-  using FingerprintStore =
-      FixedSizeValueStore<InstId, uint64_t, Tag<CheckIRId>>;
-  using FilesFingerprintStores =
-      FixedSizeValueStore<CheckIRId, FingerprintStore>;
+// A fingerprint store that computes a hash via a Merkle tree.
+class HashFingerprintStore {
+ public:
+  using ResultType = uint64_t;
 
-  // The file containing the instruction we're currently processing.
-  const File* sem_ir = nullptr;
-  // The instructions we need to compute fingerprints for.
-  llvm::SmallVector<std::pair<
-      const File*, std::variant<InstId, InstBlockId, ImplId, CppOverloadSetId>>>
-      todo;
-  // The contents of the current instruction as accumulated so far. This is used
-  // to build a Merkle tree containing a fingerprint for the current
-  // instruction.
-  llvm::SmallVector<llvm::stable_hash> contents = {};
-  // Known cached instruction fingerprints. Each item in `todo` will be added to
-  // the cache if not already present.
-  FilesFingerprintStores* fingerprints;
+  explicit HashFingerprintStore(int total_ir_count)
+      : fingerprints_(FilesFingerprintStores::MakeWithExplicitSizeFrom(
+            total_ir_count, [] {
+              return FingerprintStore::MakeForOverwriteWithExplicitSize(
+                  0, CheckIRId::None);
+            })) {}
 
-  // Finish fingerprinting and compute the fingerprint.
-  auto Finish() -> uint64_t { return llvm::stable_hash_combine(contents); }
-
-  // Gets the known fingerprint from the cache, or returns 0.
-  auto GetFingerprint(const File* file, InstId inst_id) -> uint64_t {
-    auto& store = fingerprints->Get(file->check_ir_id());
+  auto GetFingerprint(const File* file, InstId inst_id)
+      -> std::optional<ResultType> {
+    auto& store = fingerprints_.Get(file->check_ir_id());
     if (store.size() == 0) {
-      return 0;
+      return std::nullopt;
     }
-    // These InstIds are constant values, so not in the ValueStore. We use a
-    // constant (negative) fingerprint for them.
     if (inst_id == InstId::InitTombstone ||
         inst_id == InstId::ImplWitnessTablePlaceholder) {
       return inst_id.index;
     }
-    return store.Get(inst_id);
+    auto fingerprint = store.Get(inst_id);
+    if (fingerprint == 0) {
+      return std::nullopt;
+    }
+    return fingerprint;
   }
 
-  // Sets the fingerprint for an instruction in the cache. Since 0 is used to
-  // indicate empty, we map 0 to another fixed value.
-  auto SetFingerprint(const File* file, InstId inst_id, uint64_t fingerprint) {
-    auto& store = fingerprints->Get(file->check_ir_id());
+  auto SetFingerprint(const File* file, InstId inst_id, ResultType fingerprint)
+      -> void {
+    auto& store = fingerprints_.Get(file->check_ir_id());
     if (store.size() == 0) {
       store = FingerprintStore::MakeWithExplicitSize(
           file->insts().size(), file->insts().GetIdTag(), 0);
@@ -73,15 +63,180 @@ struct Worklist {
     store.Set(inst_id, fingerprint ? fingerprint : 1);
   }
 
-  // Add an invalid marker to the contents. This is used when the entity
-  // contains a `None` ID. This uses an arbitrary fixed value that is assumed
-  // to be unlikely to collide with a valid value.
-  auto AddInvalid() -> void { contents.push_back(-1); }
+  auto Prepare() -> void { contents_.clear(); }
+
+  auto Finish() -> ResultType { return llvm::stable_hash_combine(contents_); }
+
+  auto AddFingerprint(ResultType fingerprint) -> void {
+    contents_.push_back(fingerprint);
+  }
+
+  auto AddInvalid() -> void { contents_.push_back(-1); }
+
+  auto AddString(llvm::StringRef string) -> void {
+    contents_.push_back(llvm::stable_hash_name(string));
+  }
+
+  auto AddInteger(uint64_t value) -> void { contents_.push_back(value); }
+
+  auto AddAPInt(const llvm::APInt& value) -> void {
+    contents_.push_back(value.getBitWidth());
+    contents_.append(value.getRawData(),
+                     value.getRawData() + value.getNumWords());
+  }
+
+ private:
+  using FingerprintStore =
+      FixedSizeValueStore<InstId, uint64_t, Tag<CheckIRId>>;
+  using FilesFingerprintStores =
+      FixedSizeValueStore<CheckIRId, FingerprintStore>;
+  FilesFingerprintStores fingerprints_;
+  llvm::SmallVector<llvm::stable_hash> contents_;
+};
+
+// A fingerprint store that produces a string representation of the entity being
+// fingerprinted.
+class StringFingerprintStore {
+ public:
+  using ResultType = llvm::StringRef;
+
+  explicit StringFingerprintStore(int total_ir_count)
+      : fingerprints_(FilesFingerprintStores::MakeWithExplicitSizeFrom(
+            total_ir_count, [] {
+              return FingerprintStore::MakeForOverwriteWithExplicitSize(
+                  0, CheckIRId::None);
+            })) {}
+
+  auto GetFingerprint(const File* file, InstId inst_id)
+      -> std::optional<ResultType> {
+    auto& store = fingerprints_.Get(file->check_ir_id());
+    if (store.size() == 0) {
+      return std::nullopt;
+    }
+    if (inst_id == InstId::InitTombstone) {
+      return llvm::StringRef("!tombstone");
+    }
+    if (inst_id == InstId::ImplWitnessTablePlaceholder) {
+      return llvm::StringRef("!placeholder");
+    }
+    auto fingerprint = store.Get(inst_id);
+    if (fingerprint.empty()) {
+      return std::nullopt;
+    }
+    return fingerprint;
+  }
+
+  auto SetFingerprint(const File* file, InstId inst_id, ResultType fingerprint)
+      -> void {
+    auto& store = fingerprints_.Get(file->check_ir_id());
+    if (store.size() == 0) {
+      store = FingerprintStore::MakeWithExplicitSize(
+          file->insts().size(), file->insts().GetIdTag(), llvm::StringRef());
+    }
+    store.Set(inst_id, fingerprint);
+  }
+
+  auto Prepare() -> void { contents_.clear(); }
+
+  auto Finish() -> ResultType {
+    std::string result = "{";
+    bool first = true;
+    for (const auto& item : contents_) {
+      if (!first) {
+        result += ",";
+      }
+      first = false;
+      result += item;
+    }
+    result += "}";
+    return SaveString(std::move(result));
+  }
+
+  auto AddFingerprint(ResultType fingerprint) -> void {
+    contents_.push_back(fingerprint);
+  }
+
+  auto AddInvalid() -> void { contents_.push_back("!invalid"); }
+
+  auto AddString(llvm::StringRef string) -> void {
+    constexpr llvm::StringRef SpecialChars = "{},!\\";
+    auto num_special_chars = llvm::count_if(
+        string, [&](char c) { return SpecialChars.contains(c); });
+    if (num_special_chars) {
+      std::string escaped;
+      escaped.reserve(string.size() + num_special_chars);
+      for (char c : string) {
+        if (SpecialChars.contains(c)) {
+          escaped.push_back('\\');
+        }
+        escaped.push_back(c);
+      }
+      contents_.push_back(SaveString(std::move(escaped)));
+    } else {
+      contents_.push_back(string);
+    }
+  }
+
+  auto AddInteger(uint64_t value) -> void {
+    contents_.push_back(SaveString(std::to_string(value)));
+  }
+
+  auto AddAPInt(const llvm::APInt& value) -> void {
+    contents_.push_back(
+        SaveString(llvm::toString(value, 10, /*isSigned=*/true)));
+  }
+
+ private:
+  auto SaveString(std::string str) -> llvm::StringRef {
+    auto& entry = allocated_strings_.emplace_back(
+        std::make_unique<std::string>(std::move(str)));
+    return *entry;
+  }
+
+  using FingerprintStore =
+      FixedSizeValueStore<InstId, llvm::StringRef, Tag<CheckIRId>>;
+  using FilesFingerprintStores =
+      FixedSizeValueStore<CheckIRId, FingerprintStore>;
+  FilesFingerprintStores fingerprints_;
+  llvm::SmallVector<llvm::StringRef> contents_;
+  llvm::SmallVector<std::unique_ptr<std::string>> allocated_strings_;
+};
+
+namespace {
+
+template <typename StoreT>
+struct Worklist {
+  using ResultType = StoreT::ResultType;
+
+  // The file containing the instruction we're currently processing.
+  const File* sem_ir = nullptr;
+  // The instructions we need to compute fingerprints for.
+  llvm::SmallVector<std::pair<
+      const File*, std::variant<InstId, InstBlockId, ImplId, CppOverloadSetId>>>
+      todo;
+  // Known cached instruction fingerprints.
+  StoreT* store;
+
+  // Finish fingerprinting and compute the fingerprint.
+  auto Finish() -> ResultType { return store->Finish(); }
+
+  // Gets the known fingerprint from the cache, or returns std::nullopt.
+  auto GetFingerprint(const File* file, InstId inst_id)
+      -> std::optional<ResultType> {
+    return store->GetFingerprint(file, inst_id);
+  }
+
+  // Sets the fingerprint for an instruction in the cache.
+  auto SetFingerprint(const File* file, InstId inst_id, ResultType fingerprint)
+      -> void {
+    store->SetFingerprint(file, inst_id, fingerprint);
+  }
+
+  // Add an invalid marker to the contents.
+  auto AddInvalid() -> void { store->AddInvalid(); }
 
   // Add a string to the contents.
-  auto AddString(llvm::StringRef string) -> void {
-    contents.push_back(llvm::stable_hash_name(string));
-  }
+  auto AddString(llvm::StringRef string) -> void { store->AddString(string); }
 
   // Each of the following `Add` functions adds a typed argument to the contents
   // of the current instruction. If we don't yet have a fingerprint for the
@@ -131,7 +286,7 @@ struct Worklist {
       return;
     }
     if (auto fingerprint = GetFingerprint(file, inner_id)) {
-      contents.push_back(fingerprint);
+      store->AddFingerprint(*fingerprint);
       return;
     }
     todo.push_back({file, inner_id});
@@ -157,7 +312,7 @@ struct Worklist {
 
   template <typename T>
   auto AddBlock(llvm::ArrayRef<T> block) -> void {
-    contents.push_back(block.size());
+    store->AddInteger(block.size());
     for (auto inner_id : block) {
       Add(inner_id);
     }
@@ -190,9 +345,9 @@ struct Worklist {
       return;
     }
     auto block = sem_ir->custom_layouts().Get(custom_layout_id);
-    contents.push_back(block.size());
+    store->AddInteger(block.size());
     for (auto size : block) {
-      contents.push_back(size.bits());
+      store->AddInteger(size.bits());
     }
   }
 
@@ -265,7 +420,7 @@ struct Worklist {
     const auto& require = sem_ir->require_impls().Get(require_id);
     Add(sem_ir->constant_values().Get(require.self_id));
     Add(sem_ir->constant_values().Get(require.facet_type_inst_id));
-    contents.push_back(require.extend_self);
+    store->AddInteger(require.extend_self);
     Add(require.parent_scope_id);
   }
 
@@ -298,7 +453,7 @@ struct Worklist {
   auto Add(FacetTypeId facet_type_id) -> void {
     const auto& facet_type = sem_ir->facet_types().Get(facet_type_id);
     auto add_constraints = [&](auto constraints) {
-      contents.push_back(constraints.size());
+      store->AddInteger(constraints.size());
       for (auto [first, second] : constraints) {
         Add(first);
         Add(second);
@@ -307,7 +462,7 @@ struct Worklist {
     add_constraints(facet_type.extend_constraints);
     add_constraints(facet_type.self_impls_constraints);
     add_constraints(facet_type.rewrite_constraints);
-    contents.push_back(facet_type.other_requirements);
+    store->AddInteger(facet_type.other_requirements);
   }
 
   auto Add(GenericId generic_id) -> void {
@@ -339,11 +494,7 @@ struct Worklist {
     Add(interface.specific_id);
   }
 
-  auto Add(const llvm::APInt& value) -> void {
-    contents.push_back(value.getBitWidth());
-    contents.append(value.getRawData(),
-                    value.getRawData() + value.getNumWords());
-  }
+  auto Add(const llvm::APInt& value) -> void { store->AddAPInt(value); }
 
   auto Add(IntId int_id) -> void { Add(sem_ir->ints().Get(int_id)); }
 
@@ -355,7 +506,7 @@ struct Worklist {
     const auto& real = sem_ir->reals().Get(real_id);
     Add(real.mantissa);
     Add(real.exponent);
-    contents.push_back(real.is_decimal);
+    store->AddInteger(real.is_decimal);
   }
 
   auto Add(PackageNameId package_id) -> void {
@@ -407,7 +558,7 @@ struct Worklist {
                          ElementIndex, FloatKind, IntKind, CallParamIndex>)
   auto Add(T arg) -> void {
     // Index-like ID: just include the value directly.
-    contents.push_back(arg.index);
+    store->AddInteger(arg.index);
   }
 
   template <typename T>
@@ -424,20 +575,20 @@ struct Worklist {
 
   // Add an instruction argument to the contents of the current instruction.
   auto AddWithKind(IdAndKind arg) -> void {
-    arg.Dispatch<void>([this](auto id) { Add(id); });
+    arg.Dispatch<void>([&](auto id) { Add(id); });
   }
 
   // Ensure all the instructions on the todo list have fingerprints. To avoid a
   // re-lookup, returns the fingerprint of the first instruction on the todo
   // list, and requires the todo list to be non-empty.
-  auto Run() -> uint64_t {
+  auto Run() -> ResultType {
     CARBON_CHECK(!todo.empty());
     while (true) {
       const size_t init_size = todo.size();
       auto [next_sem_ir, next] = todo.back();
 
       sem_ir = next_sem_ir;
-      contents.clear();
+      store->Prepare();
 
       if (!std::holds_alternative<InstId>(next)) {
         // Add the contents of the `next` instruction so they all contribute to
@@ -483,7 +634,7 @@ struct Worklist {
       if (auto fingerprint = GetFingerprint(next_sem_ir, next_inst_id)) {
         todo.pop_back();
         if (todo.empty()) {
-          return fingerprint;
+          return *fingerprint;
         }
         continue;
       }
@@ -510,7 +661,7 @@ struct Worklist {
       // pop it from the todo list. Otherwise, we leave it on the todo list so
       // we can compute its fingerprint once we've finished the work we added.
       if (todo.size() == init_size) {
-        uint64_t fingerprint = Finish();
+        ResultType fingerprint = Finish();
         SetFingerprint(next_sem_ir, next_inst_id, fingerprint);
         todo.pop_back();
         if (todo.empty()) {
@@ -520,35 +671,54 @@ struct Worklist {
     }
   }
 };
+
 }  // namespace
 
-auto InstFingerprinter::GetOrCompute(const File* file, InstId inst_id)
-    -> uint64_t {
-  Worklist worklist = {.todo = {{file, inst_id}},
-                       .fingerprints = &fingerprints_};
+template <typename StoreT, typename ResultT>
+InstFingerprinterTemplate<StoreT, ResultT>::InstFingerprinterTemplate(
+    int total_ir_count)
+    : store_(std::make_unique<StoreT>(total_ir_count)) {}
+
+template <typename StoreT, typename ResultT>
+InstFingerprinterTemplate<StoreT, ResultT>::~InstFingerprinterTemplate() =
+    default;
+
+template <typename StoreT, typename ResultT>
+auto InstFingerprinterTemplate<StoreT, ResultT>::GetOrCompute(const File* file,
+                                                              InstId inst_id)
+    -> ResultT {
+  Worklist<StoreT> worklist = {.todo = {{file, inst_id}},
+                               .store = store_.get()};
   return worklist.Run();
 }
 
-auto InstFingerprinter::GetOrCompute(const File* file,
-                                     InstBlockId inst_block_id) -> uint64_t {
-  Worklist worklist = {.todo = {{file, inst_block_id}},
-                       .fingerprints = &fingerprints_};
+template <typename StoreT, typename ResultT>
+auto InstFingerprinterTemplate<StoreT, ResultT>::GetOrCompute(
+    const File* file, InstBlockId inst_block_id) -> ResultT {
+  Worklist<StoreT> worklist = {.todo = {{file, inst_block_id}},
+                               .store = store_.get()};
   return worklist.Run();
 }
 
-auto InstFingerprinter::GetOrCompute(const File* file, ImplId impl_id)
-    -> uint64_t {
-  Worklist worklist = {.todo = {{file, impl_id}},
-                       .fingerprints = &fingerprints_};
+template <typename StoreT, typename ResultT>
+auto InstFingerprinterTemplate<StoreT, ResultT>::GetOrCompute(const File* file,
+                                                              ImplId impl_id)
+    -> ResultT {
+  Worklist<StoreT> worklist = {.todo = {{file, impl_id}},
+                               .store = store_.get()};
   return worklist.Run();
 }
 
-auto InstFingerprinter::GetOrCompute(const File* file,
-                                     CppOverloadSetId overload_set_id)
-    -> uint64_t {
-  Worklist worklist = {.todo = {{file, overload_set_id}},
-                       .fingerprints = &fingerprints_};
+template <typename StoreT, typename ResultT>
+auto InstFingerprinterTemplate<StoreT, ResultT>::GetOrCompute(
+    const File* file, CppOverloadSetId overload_set_id) -> ResultT {
+  Worklist<StoreT> worklist = {.todo = {{file, overload_set_id}},
+                               .store = store_.get()};
   return worklist.Run();
 }
 
+template class InstFingerprinterTemplate<HashFingerprintStore, uint64_t>;
+template class InstFingerprinterTemplate<StringFingerprintStore,
+                                         llvm::StringRef>;
+
 }  // namespace Carbon::SemIR
diff --git a/toolchain/sem_ir/inst_fingerprinter.h b/toolchain/sem_ir/inst_fingerprinter.h
index f20214b55bc7..34872c31cd20 100644
--- a/toolchain/sem_ir/inst_fingerprinter.h
+++ b/toolchain/sem_ir/inst_fingerprinter.h
@@ -5,52 +5,57 @@
 #ifndef CARBON_TOOLCHAIN_SEM_IR_INST_FINGERPRINTER_H_
 #define CARBON_TOOLCHAIN_SEM_IR_INST_FINGERPRINTER_H_
 
+#include <memory>
+#include <string>
+
+#include "llvm/ADT/StringRef.h"
 #include "toolchain/base/fixed_size_value_store.h"
 #include "toolchain/sem_ir/file.h"
 #include "toolchain/sem_ir/ids.h"
 
 namespace Carbon::SemIR {
 
+class HashFingerprintStore;
+class StringFingerprintStore;
+
 // Computes fingerprints for instructions. These fingerprints are intended to be
 // stable across compilations and across minor changes to the compiler.
-class InstFingerprinter {
+template <typename StoreT, typename ResultT>
+class InstFingerprinterTemplate {
  public:
-  explicit InstFingerprinter(int total_ir_count)
-      : fingerprints_(FilesFingerprintStores::MakeWithExplicitSizeFrom(
-            total_ir_count, [] {
-              return FingerprintStore::MakeForOverwriteWithExplicitSize(
-                  0, CheckIRId::None);
-            })) {}
+  using StoreType = StoreT;
+  using ResultType = ResultT;
+
+  explicit InstFingerprinterTemplate(int total_ir_count);
+  ~InstFingerprinterTemplate();
 
   // Gets or computes a fingerprint for the given instruction.
-  auto GetOrCompute(const File* file, InstId inst_id) -> uint64_t;
+  auto GetOrCompute(const File* file, InstId inst_id) -> ResultType;
 
   // Gets or computes a fingerprint for the given instruction block.
-  auto GetOrCompute(const File* file, InstBlockId inst_block_id) -> uint64_t;
+  auto GetOrCompute(const File* file, InstBlockId inst_block_id) -> ResultType;
 
   // Gets or computes a fingerprint for the given impl.
-  auto GetOrCompute(const File* file, ImplId impl_id) -> uint64_t;
+  auto GetOrCompute(const File* file, ImplId impl_id) -> ResultType;
 
   // Gets or computes a fingerprint for the given C++ overload set.
   auto GetOrCompute(const File* file, CppOverloadSetId overload_set_id)
-      -> uint64_t;
+      -> ResultType;
 
  private:
-  // The fingerprint for each instruction that has had its fingerprint computed,
-  // indexed by the InstId's index.
-  //
-  // TODO: Experiment with also caching fingerprints for instruction blocks once
-  // we can get realistic performance measurements for this. This would simplify
-  // the `GetOrCompute` overload for `InstBlockId`s, and may save some work if
-  // the same canonical inst block is used by multiple instructions, for example
-  // as a specific argument list.
-  using FingerprintStore =
-      FixedSizeValueStore<InstId, uint64_t, Tag<CheckIRId>>;
-  using FilesFingerprintStores =
-      FixedSizeValueStore<CheckIRId, FingerprintStore>;
-  FilesFingerprintStores fingerprints_;
+  std::unique_ptr<StoreT> store_;
 };
 
+using HashInstFingerprinter =
+    InstFingerprinterTemplate<HashFingerprintStore, uint64_t>;
+using StringInstFingerprinter =
+    InstFingerprinterTemplate<StringFingerprintStore, llvm::StringRef>;
+using InstFingerprinter = HashInstFingerprinter;
+
+extern template class InstFingerprinterTemplate<HashFingerprintStore, uint64_t>;
+extern template class InstFingerprinterTemplate<StringFingerprintStore,
+                                                llvm::StringRef>;
+
 }  // namespace Carbon::SemIR
 
 #endif  // CARBON_TOOLCHAIN_SEM_IR_INST_FINGERPRINTER_H_
diff --git a/toolchain/sem_ir/mangler.cpp b/toolchain/sem_ir/mangler.cpp
index d1ae87a96b5f..ce83709ca3bd 100644
--- a/toolchain/sem_ir/mangler.cpp
+++ b/toolchain/sem_ir/mangler.cpp
@@ -18,6 +18,17 @@
 
 namespace Carbon::SemIR {
 
+Mangler::Mangler(const SemIR::File& sem_ir, int total_ir_count,
+                 bool use_string_fingerprint)
+    : sem_ir_(sem_ir),
+      fingerprinter_(
+          use_string_fingerprint
+              ? std::variant<HashInstFingerprinter, StringInstFingerprinter>(
+                    std::in_place_type<StringInstFingerprinter>, total_ir_count)
+              : std::variant<HashInstFingerprinter, StringInstFingerprinter>(
+                    std::in_place_type<HashInstFingerprinter>,
+                    total_ir_count)) {}
+
 auto Mangler::MangleNameId(llvm::raw_ostream& os, SemIR::NameId name_id)
     -> void {
   CARBON_CHECK(name_id.AsIdentifierId().has_value(),
@@ -124,9 +135,7 @@ auto Mangler::MangleInverseQualifiedNameScope(llvm::raw_ostream& os,
           }
           default: {
             // Fall back to including a fingerprint.
-            llvm::write_hex(
-                os, fingerprinter_.GetOrCompute(&sem_ir(), self_const_inst_id),
-                llvm::HexPrintStyle::Lower, 16);
+            MangleFingerprint(os, &sem_ir(), self_const_inst_id);
             break;
           }
         }
@@ -199,9 +208,7 @@ auto Mangler::Mangle(SemIR::FunctionId function_id,
 
     case SemIR::Function::SpecialFunctionKind::CoreWitness:
       os << ".";
-      llvm::write_hex(
-          os, fingerprinter_.GetOrCompute(&sem_ir(), function.self_param_id),
-          llvm::HexPrintStyle::Lower, 16);
+      MangleFingerprint(os, &sem_ir(), function.self_param_id);
       os << ":core";
       break;
     case SemIR::Function::SpecialFunctionKind::Thunk:
@@ -246,11 +253,8 @@ auto Mangler::MangleSpecificId(llvm::raw_ostream& os,
   // but isn't necessarily stable across toolchain changes.
   if (specific_id.has_value()) {
     os << ".";
-    llvm::write_hex(
-        os,
-        fingerprinter_.GetOrCompute(
-            &sem_ir(), sem_ir().specifics().Get(specific_id).args_id),
-        llvm::HexPrintStyle::Lower, 16);
+    MangleFingerprint(os, &sem_ir(),
+                      sem_ir().specifics().Get(specific_id).args_id);
   }
 }
 
diff --git a/toolchain/sem_ir/mangler.h b/toolchain/sem_ir/mangler.h
index dc8398c8289b..120e1eb03b24 100644
--- a/toolchain/sem_ir/mangler.h
+++ b/toolchain/sem_ir/mangler.h
@@ -6,6 +6,7 @@
 #define CARBON_TOOLCHAIN_SEM_IR_MANGLER_H_
 
 #include <string>
+#include <variant>
 
 #include "clang/AST/Mangle.h"
 #include "toolchain/sem_ir/constant.h"
@@ -21,8 +22,8 @@ class Mangler {
  public:
   // Initialize a new Mangler instance for mangling entities within the
   // specified `File`.
-  Mangler(const SemIR::File& sem_ir, int total_ir_count)
-      : sem_ir_(sem_ir), fingerprinter_(total_ir_count) {}
+  Mangler(const SemIR::File& sem_ir, int total_ir_count,
+          bool use_string_fingerprint = false);
 
   // Produce a deterministically unique mangled name for the function specified
   // by `function_id` and `specific_id`.
@@ -77,8 +78,24 @@ class Mangler {
     return sem_ir().constant_values();
   }
 
+  template <typename IdT>
+  auto MangleFingerprint(llvm::raw_ostream& os, const File* file, IdT id)
+      -> void {
+    std::visit(
+        [&](auto& f) -> void {
+          using ResultT = typename std::decay_t<decltype(f)>::ResultType;
+          if constexpr (std::is_same_v<ResultT, llvm::StringRef>) {
+            os << f.GetOrCompute(file, id);
+          } else {
+            llvm::write_hex(os, f.GetOrCompute(file, id),
+                            llvm::HexPrintStyle::Lower, 16);
+          }
+        },
+        fingerprinter_);
+  }
+
   const SemIR::File& sem_ir_;
-  SemIR::InstFingerprinter fingerprinter_;
+  std::variant<HashInstFingerprinter, StringInstFingerprinter> fingerprinter_;
 };
 
 }  // namespace Carbon::SemIR