From some sources it seems that the Jews were equivalent to the Egyptians at the Splitting of the Sea yet some medrashim list various unique merits that the Jews had.
Shemos Rabbah (21:7) When Israel departed from Egypt, the Angel Samael arose to accuse them, pleading before God: ' Lord of the Universe! Till now they have been worshipping idols, and now Thou dividest the sea for them?
Zohar (2:170b) When the Israelites stood on the shore of the Red Sea and G-d was about to divide its waters for them, Rahab, the angel-prince of Egypt, appeared, and demanded justice from G-d. He stood before Him and said: Lord of the world, why dost thou desire to punish Egypt and to divide the Red Sea for Israel? Have not all sinned against Thee? Thy ways are according to justice and truth. Those are idolaters and so are these.
Bamidbar Rabbah (3:6)) By whose merit did Israel go forth out of Egypt? R. Halpai said: By the merit of Jacob. Our Rabbis say: They were redeemed because of the merit of the women, the pious mothers.It was on account of the merit of the pious among them that they came out.
Bamidbar Rabbah (13:20) By virtue of three things they were redeemed 1)They did not change their names,2) they did not change their language, and 3) they fenced themselves off against unchastity
Bamidbar Rabbah (20:22) Israel were redeemed from Egypt by reason of the merit of four acts. They did not change their names, they did not change their language, they did not disclose their secrets
Devarim Rabba (2:23) Israel were redeemed from Egypt only because of the following five reasons: (1) Distress, (2) Repentance, (3) The Merits of the Fathers, (4) God's Mercy, (5) The Term of their slavery, which had come to an end.
Mechilta (Beshalach 6] Jews were only redeemed from Egypt because of their faith
Medrash Tehilim (114:4) The Jews were redeemed from Egypt on the merit of four things 1)They didn’t change their names 2) They didn’t change thei language 3(They didn’t reveal their secrets 4) They weren’t involved in sexual sins.
Shemos Rabbah (1:28) Israel was redeemed from Egypt on account of four things, one being because they did not change their names. 2) they were not suspected of adultery.
Shemos Rabbah (17:3) On account of two kinds of blood were Israel redeemed from Egypt-the blood of the Passover and the blood of circumcision,
Midrash Lekach Tov (Shemos 6:6) There were four merits the Jews had that correspond to the four terms of redemption in the Torah. 1) they did not change their language 2) they did not change their clothing 3) they did not reveal secrets 4) they did not stop mila
Shir HaShirim Rabbah (IV 12) In the merit of four things were the Jews redeemed from Egypt 1) They did not change their names 2) they did not change thei language 3) They did not speak lashon harah 4) No one was involved in sexual sins
Sotah (11b) In the merit of the righteous women that were in that generation, the Jewish people were redeemed from Egypt. At the time when these women would go to draw water, G-d would materialize for them small fish that would enter into their pitchers, and they would draw pitchers that were half filled with water and half filled with fish. And they would come and place two pots on the fire, one of hot water for washing their husbands and one of fish with which to feed them.
Tanchuma (25:1) The Jews were redeemed from Egypt on the meruit of four things 1)They didn’t change their names 2) They didn’t change thei language 3(They didn’t reveal their secrets 4) They weren’t involved in sexual sins.
Yalkut Shimoni (#657) The Jews were redeemed from Egypt on the merit of four things1)They didn’t change their names 2) They didn’t change thei language 3) They didn’t speak lashon harah 4) They weren’t involved in sexual sins.
Vayikra Rabbah (Emor 32:5) Israel were redeemed from Egypt on account of four things, viz. because they did not change their names, they did not change their language, they did not go tale-bearing, and none of them was found to have been immoral.
Yerushalmi (Tanis I 63a) Israel were redeemed from Egypt for five reasons. Because 1) the time of Exile was finished 2) suffering tribulation 3) because of their cries for help, 4)merit of the Fathers, 5) because of repentance.