Quite possible the cap is going bad, but that'd just lead to excessive leakage at the cap (and into the overflow tank), not causing the water pump to blow its front seal.
For what it matters, I know from experience that water pump replacement at 90k miles and 10 years old isn't unheard of. (Mechanic: "See that there where the antifreeze is coming out? That's called a weephole." Me: "What's the weephole supposed to do?" Mechanic: "It's not supposed to do anything, but when coolant comes out there it's time to replace the pump!")
Also for what it's worth, I once went to the hassle of pulling a water pump and completely resealing the back of it and reinstalling it, only to find that it really had been leaking from the lower weephole to start with.
For what it matters, I know from experience that water pump replacement at 90k miles and 10 years old isn't unheard of. (Mechanic: "See that there where the antifreeze is coming out? That's called a weephole." Me: "What's the weephole supposed to do?" Mechanic: "It's not supposed to do anything, but when coolant comes out there it's time to replace the pump!")
Also for what it's worth, I once went to the hassle of pulling a water pump and completely resealing the back of it and reinstalling it, only to find that it really had been leaking from the lower weephole to start with.

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