With tomatoes, if your plants are healthy and are not tiny, you can just pull one of them up like a weed and repot it. (Tomatoes are very lenient with their roots.) Then water the old one and make sure soil is covering its roots. They should both live and be fine. They should develop new roots quickly. I've done this a fair amount. It works with tomatillos, too. It may stunt peppers for a while, but that can be overcome with the right nutrients and growing conditions. Potassium sulfate is an example helpful nutrient. Bright light (after the plant has adjusted a little, and not before) is an example helpful growing condition.
For much trickier plants, or if you just want to know for sure that you'll save one plant, you might be better off snipping one off and treating it as a cutting. The other one should be fine, in this case. However, for the one you cut off, I would personally try to cut it off so low that you get at least a root or two. Then your odds of success with that 'cutting' will be much better.
Alternately, you could just leave both plants together forever.