#!/usr/bin/perl
use warnings;
use strict;
use feature qw{ say };

for my $string (
    '--server api.blr-ocp1.lab.rbbn.com --username mgore --password ab
+c123',
    '--server api.blr-ocp1.lab.rbbn.com --token kfjshdssahdvkbvjkbj'
) {
    if ($string
        =~ /^--server\s+(?<server>\S+)\s+
            (?:--username\s+(?<username>\S+)\s+--password\s+(?<passwor
+d>\S+)
             |--token\s+(?<token>\S+))/x
    ) {
        say 'Server: ', ${^CAPTURE}{server};
        if (exists ${^CAPTURE}{token}) {
            say 'Token: ', ${^CAPTURE}{token};
        } else {
            say 'Username: ', ${^CAPTURE}{username};
            say 'Password: ', ${^CAPTURE}{password};
        }
    } else {
        say 'No match';
    }
}
[download]

use Getopt::Long;

for (
    '--server api.blr-ocp1.lab.rbbn.com --username mgore --password ab
+c123',
    '--server api.blr-ocp1.lab.rbbn.com --token kfjshdssahdvkbvjkbj',
)
{
    local @ARGV = split;
    my( $server, $username, $password, $token );
    GetOptions(
        'server=s' => \$server,
        'username=s' => \$username,
        'password=s' => \$password,
        'token=s' => \$token,
    ) or die;

    $server or die "--server is required\n";
    $token && ($username || $password) and die "cannot provide --usern
+ame or --password with --token\n";
    ($username xor $password) and die "--username and --password must 
+be provided together\n";
    $token || $username or die "must provide either --token or --usern
+ame plus --password.\n";

    if ($token)
    {
    }
    else # username+password
    {
    }
}
[download]

It is mildly unclear to me whether you have a (curl or wget) command, or an https:// URL.

For Curl commands, see HTTP::Request::FromCurl for example, which parses a Curl (or Wget) command line.

For https:// URLs, see URI or Mojo::URL.

If you have concrete examples, please post them here together with your code in <code>...</code> tags, then we can give you more concrete advice.

IIUC, this sounds like a job for URI. Is there some reason to go reinventing the wheel here?

No, it really does not.

if (defined ($parms{username}) and defined($parms{password}) )
   { print "username and password case\n";}
[download]

use strict;
use warnings;
use Data::Dump qw(pp);


while (defined (my $line =<DATA>))
{
   chomp $line;
   next unless $line =~ /\S/;  #skip blank lines
   
   my %parms = $line =~ /--(\w+)\s+([\w.-]+)/g;
   
   pp \%parms;

}

=output
{
  password => "abc123",
  server   => "api.blr-ocp1.lab.rbbn.com",
  username => "mgore",
}
{
  server => "api.blr-ocp1.lab.rbbn.com",
  token  => "kfjshdssahdvkbvjkbj",
}
=cut

__DATA__
1. --server api.blr-ocp1.lab.rbbn.com --username mgore --password abc1
+23
2. --server api.blr-ocp1.lab.rbbn.com --token kfjshdssahdvkbvjkbj
[download]

Your title and text say you want to parse URLs, but your examples look like command line options. If your examples represent what you are really trying to parse, it looks very much like a job for split() (or at the very worst Text::ParseWords) and Getopt::Long. Assuming the following is in file parse_url

#!/usr/bin/env perl

use 5.010;

use strict;
use warnings;

use Data::Dumper;
use Getopt::Long qw{ GetOptionsFromArray };

my @arg = split /\s+/, $ARGV[0];
my %option;
GetOptionsFromArray(
    \@arg,
    \%option,
    qw{ password=s server=s token=s username=s },
) or die;

print Dumper \%option;

# ex: set textwidth=72 :
[download]

running perl parse_url '--server api.blr-ocp1.lab.rbbn.com --username mgore --password abc1' produces

$VAR1 = {
          'server' => 'api.blr-ocp1.lab.rbbn.com',
          'password' => 'abc1',
          'username' => 'mgore'
        };
[download]

That is, the hash contains key/value pairs representing whatever options actually appear in the line. The or die; branch will be taken if the line contains unknown options. Non-option arguments will remain in @arg.

pre tags replaced by Code tags by Grandfather