Disclosed are a display panel and a display device. The display panel includes a first substrate and a light-emitting substrate disposed opposite to each other. The first substrate includes a first base and a baffle wall layer, the first base includes a display region, and the baffle wall layer is located on a side of the first substrate and in the display region. The light-emitting substrate includes a second base, a eutectic layer and multiple micro light-emitting diodes. The eutectic layer is located on a side of the second base close to the first substrate. The multiple micro light-emitting diodes are located on a side of the eutectic layer close to the first substrate. The eutectic layer includes a first eutectic layer subsection and a second eutectic layer subsection, the first eutectic layer subsection is electrically connected to multiple micro light-emitting diodes.