https://developer.wordpress.org/reference/functions/wp_hash_password/ references https://www.openwall.com/phpass/ which in turn references https://www.php.net/manual/en/function.password-hash.php but is not clear which supported algo is default.
SO has a couple of q&as but nothing authoritative.
PASSWORD_DEFAULT - Use the bcrypt algorithm (default as of PHP 5.5.0).
(from https://www.php.net/manual/en/function.password-hash.php)and then there's also the source code:
https://github.com/php/php-src/blob/bf92bddb878dbd86d23db290...