Halve and seed the peppers (also remove the internal ribs of the peppers too since they tend to be very hot). In a medium bowl, combine the cream cheese, cheddar, and smoked paprika. Cut the bacon strips into thirds (or halves if you have very large jalapenos). Stuff each pepper half with the cheese mixture, and wrap each in a piece of bacon - pulling the bacon a bit and laying it over itself helps the bacon stay wrapped around the pepper, similar to plastic wrap.

Bake at 425 for ~20-25 minutes in a rimmed baking pan just until bacon is cooked. Move to a dish or sheet lined with paper towels for a couple minutes to cool and for the towels to absorb some of the bacon grease. Serve!