Preheat an outdoor grill for medium heat and lightly oil the grate.

Place chicken breast on a flat work surface. Slice horizontally through the middle, being careful not to cut all the way through to the other side. Open the 2 sides and spread them out like butterfly wings. Repeat with remaining breasts.

Combine garlic powder, salt, onion powder, paprika, and black pepper in a small bowl. Sprinkle mixture over chicken breasts.

Combine jalapeno peppers, cream cheese, and Cheddar cheese in a bowl. Spread mixture evenly over chicken breasts.

Wrap 2 strips of bacon around each chicken breast and secure with a toothpick.

Cook on the hot grill until bacon is cooked and chicken is no longer pink in the center and the juices run clear, about 25 minutes. An instant-read thermometer inserted into the center should read at least 165 degrees F (74 degrees C).