Java - Problema con un condicional

JPasswordField pwd1 = new JPasswordField("nueva");

JPasswordField pwd2 = new JPasswordField("nueva");

String pass1 = pwd1.getText();

String pass2 = pwd2.getText();

if (pass1!= pass2)

{

    System.out.println("La pass no coinciden");

}

else

{

    System.out.println("La pass coincide");

}

System.out.println("------------");

System.out.println("pass1: " + pass1);

System.out.println("pass2: " + pass2);

System.out.println("------------");

La pass no coinciden

------------

pass1: nueva

pass2: nueva

------------

public class HelloWorld{

     public static void main(String []args){

        String value1 = "hello";

        String value2 = "hello";

        String value3 = new String("hello");

        if(value1 == value2) {

            System.out.println("value1 y value2 same objeto en memoria");

        }

        if(value1 == value3) {

            // no debe the imprimir ....

            System.out.println("value1 y value3 same objeto en memoria");

        }

        if(value1.equals(value2)) {

            System.out.println("value1 y value2 contienen el mismo valor");

        }

        if(value1.equals(value3)) {

            System.out.println("value1 y value3 contienen el mismo valor");

        }

     }

}