Finding the proper entropy-like Lyapunov functional associated with the inelastic Boltzmann equation for an isolated freely cooling granular gas is a still unsolved challenge. The original H-theorem hypotheses do not fit here and the H-functional presents some additional measure problems that are solved by the Kullback–Leibler divergence (KLD) of a reference velocity distribution function from the actual distribution. The right choice of the reference distribution in the KLD is crucial for the latter to qualify or not as a Lyapunov functional, the asymptotic “homogeneous cooling state” (HCS) distribution being a potential candidate. Due to the lack of a formal proof far from the quasielastic limit, the aim of this work is to support this conjecture aided by molecular dynamics simulations of inelastic hard disks and spheres in a wide range of values for the coefficient of restitution (α) and for different initial conditions. Our results reject the Maxwellian distribution as a possible reference, whereas they reinforce the HCS one. Moreover, the KLD is used to measure the amount of information lost on using the former rather than the latter, revealing a non-monotonic dependence with α.