A display panel and a display device, where the display panel includes a substrate, an insulation layer, a conductive layer, a first planarization layer, an OLED layer and an encapsulation layer which are stacked in sequence, where a plurality of first grooves are formed in the conductive layer, and the first planarization layer fills the first grooves and covers the conductive layer; the display panel further includes a compensation layer, where a plurality of second grooves are formed in the compensation layer, and projection of the compensation layer on the substrate at least overlaps with projection of part of the first grooves on the substrate.