diff --git a/pkg/storage/secret/metadata/decrypt_store.go b/pkg/storage/secret/metadata/decrypt_store.go
index 1a827b32d00..7a314ab27cd 100644
--- a/pkg/storage/secret/metadata/decrypt_store.go
+++ b/pkg/storage/secret/metadata/decrypt_store.go
@@ -3,7 +3,6 @@ package metadata
 import (
 	"context"
 	"fmt"
-	"strconv"
 	"time"
 
 	claims "github.com/grafana/authlib/types"
@@ -88,13 +87,12 @@ func (s *decryptStorage) Decrypt(ctx context.Context, namespace xkube.Namespace,
 		} else {
 			span.SetStatus(codes.Error, "Decrypt failed")
 			span.RecordError(decryptErr)
-			args = append(args, "operation", "decrypt_secret_error", "error", decryptErr.Error())
+			args = append(args, "operation", "decrypt_secret_error", "error", decryptErr.Error(), "result", metrics.DecryptResultLabel(decryptErr))
 		}
 
 		logging.FromContext(ctx).Info("Secrets Audit Log", args...)
 
-		success := decryptErr == nil
-		s.metrics.DecryptDuration.WithLabelValues(strconv.FormatBool(success)).Observe(time.Since(start).Seconds())
+		s.metrics.DecryptDuration.WithLabelValues(metrics.DecryptResultLabel(decryptErr)).Observe(time.Since(start).Seconds())
 	}()
 
 	// Basic authn check before reading a secure value metadata, it is here on purpose.
diff --git a/pkg/storage/secret/metadata/metrics/metrics.go b/pkg/storage/secret/metadata/metrics/metrics.go
index 5d904253dde..08506c60400 100644
--- a/pkg/storage/secret/metadata/metrics/metrics.go
+++ b/pkg/storage/secret/metadata/metrics/metrics.go
@@ -1,8 +1,10 @@
 package metrics
 
 import (
+	"errors"
 	"sync"
 
+	"github.com/grafana/grafana/pkg/registry/apis/secret/contracts"
 	"github.com/prometheus/client_golang/prometheus"
 )
 
@@ -11,6 +13,7 @@ const (
 	subsystem = "storage"
 	// labels
 	successLabel = "success"
+	resultLabel  = "result"
 )
 
 // StorageMetrics is a struct that contains all the metrics for all operations of secrets storage.
@@ -121,7 +124,7 @@ func newStorageMetrics() *StorageMetrics {
 			Name:      "decrypt_duration_seconds",
 			Help:      "Duration of decrypt operations",
 			Buckets:   prometheus.DefBuckets,
-		}, []string{successLabel}),
+		}, []string{resultLabel}),
 	}
 }
 
@@ -161,3 +164,18 @@ func NewStorageMetrics(reg prometheus.Registerer) *StorageMetrics {
 func NewTestMetrics() *StorageMetrics {
 	return newStorageMetrics()
 }
+
+// DecryptResultLabel returns a label value for the given decrypt error.
+func DecryptResultLabel(err error) string {
+	if err == nil {
+		return "success"
+	}
+
+	if errors.Is(err, contracts.ErrDecryptNotFound) {
+		return "error_not_found"
+	} else if errors.Is(err, contracts.ErrDecryptNotAuthorized) {
+		return "error_unauthorized"
+	}
+
+	return "error_generic_failure"
+}