No account wall
While about 60% of stores require an account to save a product to the wishlist, account walls are highly disliked by users. The wishlist feature should be usable by guest users (without having to log in).
I’d recommend clarifying that users don’t have to create an account to add an item to the wishlist.
Favorites / My List
That said, the main purpose of a wishlist is perceived by users to be for sharing gift ideas with others, and they see this as greedy or inappropriate. So naming it “Favorites” or “My List” might be better, though users also think it has an account wall.