I wish to have an input field with the prompt inside the field to save presentation space.
Is it possible to have a cross browser password input field on a form that has a text prompt such as Password: * as you start typing it either masks the password or is a true password field.
If you post the form, capture the response which is immediately stored as a password, therefore not text and as a value is submitted no prompt, but should you clear the box, the prompt Password: * re appears.
It sounds like you are looking to watermark the input field. If you are using jQuery, you can use the watermark plugin. This particular plugin works for password marked inputs.
Or you can also use HTML 5's Placeholder as seen here on stackoverflow.