The situation can be explained by the relationship between kinetic energy and speed. Kinetic energy (KE) is given by the formula:
\[ KE = \frac{1}{2}mv^2 \]
where \( m \) is mass and \( v \) is velocity (speed). Since both objects have equal masses, if one object has a greater kinetic energy than the other, it must have a greater speed. Therefore, the correct choice is:
One object has a greater speed than the other object.