No, there is not. If there was a separate iCloud Keychain, then my passwords never would have gotten uploaded in the first place. Most of these passwords were Safari web form logins. Safari stores them where it wants.
> Or use the Export All Passwords feature in the Passwords app.
Export them to where? I want to use the operating system to store my passwords locally. I just don't want them in iCloud.
I've been using the Keychain app on the Mac for 20 years.
> you can clearly see the existence of multiple keychains and one explicitly labeled iCloud
There's no "iCloud" keychain if you don't use iCloud Keychain. There is a "Local Items" keychain. Let me emphasize LOCAL in the name. Unfortunately, what happens when iCloud Keychain is enabled (silently, without consent in my case), "Local Items" becomes "iCloud". macOS stores a lot of things in the Local Items keychain, including Safari web form passwords, which is why mine got silently uploaded to iCloud.
Has been this way for at least a decade.