Password field default value

Question

How can I both use the HTML password input and set a text default value that will be readable since the password input will turn the characters into dots or stars? Can I do

Answer 1

In head:

    function Changetxt() {
        if ($('#pwd').val() == "Enter Your Password Here") {
            $('#pwd').val('');
            $('#pwd').css('color', 'black');
        }
    }

    function textboxtype() {
        if ($('#pwd').val().length < 1) {
            $('#pwd').val('Enter Your Password Here');
            $('#pwd').css('color', 'gray');
        }
    }

In body: