I believe what you can do is write out the expression and take the log of both sides. WHen taking the derivative, you must remember y is a function of x.
y = Sqrt[x^2 - a]
y = [x^2 - a]^(1/2)
Take natural log
Ln[y] = Ln{ [x^2 - a]^(1/2) }
Ln[y] = (1/2) Ln{[x^2 - a]}
Take derivative wrt x. Don't forget you must apply chain rule to right hand side. Where y' comes out anyway.
(1/y) (y') = 2x/ (2 (x^2 - a))
writing more neatly, cancel a two
(y'/y) = x / (x^2 - a)
Finally, multiply a y back over and resub your original y.
y' = yx/ (x^2 - a) y = [x^2 - a]^(1/2)
Thus
y' = x [x^2 - a]^(1/2) / (x^2 - a)
y' = x(x^2 - a)^(-1/2)