Sear the Chicken:
Season chicken breasts with salt and pepper. In a large skillet, heat olive oil over medium-high heat. Sear chicken for 4–5 minutes per side until golden and nearly cooked through. Transfer to a plate.
Cook the Bacon and Jalapeños:
In the same skillet, cook chopped bacon until crisp. Remove and set aside, leaving about 1 tablespoon of bacon fat in the pan. Add diced jalapeños and garlic, sauté for 1–2 minutes until fragrant.
Make the Sauce:
Reduce heat to medium. Stir in cream cheese and chicken broth, whisking until smooth and creamy. Add half of the cheddar and all of the parmesan; stir until melted.
Combine Everything:
Return the chicken to the skillet, nestling it into the sauce. Spoon sauce over the top. Sprinkle remaining cheddar and cooked bacon over the chicken.
Finish Cooking:
Cover and simmer on low for 5–7 minutes until chicken is fully cooked through (internal temp 165°F) and sauce is bubbly. Uncover for the last few minutes if you prefer a thicker sauce.
Serve:
Garnish with green onions or parsley. Serve with roasted veggies, mashed potatoes, or crusty bread.