Krishna gave his side an early advantage when he collected a Michael Boxall pass, wrong-footed two defenders and calmly slotted home under a diving Andrew Redmayne six minutes in.
Heart earned parity through a powerful strike from Jonatan Germano before two yellow cards to Wellington defender Ben Sigmund left his side a man down.
The home side couldn’t make any inroads ahead of the break despite the man advantage as
Redmayne was forced to make saves from Krishna and Tyler Boyd as the away side tried to earn the advantage on the counter.
Phoenix keeper Glen Moss made a crucial one-on-one save to deny Heart as play resumed in the second half.
The home side’s failure to hit the scoreboard hit Heart hard as the Phoenix took a shock lead when Krishna started a swift counter attack up the right.
His drilled cross was blocked by Redmayne and Boyd was on hand to control the ball and place a shot into the corner.
Unfortunately that lead didn’t last long as Heart converted a penalty awarded after Manny Muscat was deemed to have brought down Harry Kewell in the area.
Neither side was able to edge ahead before the final whistle despite some impressive efforts.
The draw puts Wellington three points out of the final six and will need to win at least two of their remaining four games to have a chance of making the play-offs.
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Krishna opens A-League account
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