<input name="myusername" type="text" id="u" class="blackle u" value="Username..." />
<input name="mypassword" type="text" id="p" class="blackle p" value="Password..." />
Using jQuery…
Onfocus – if #u has val “Username…” then change it to “” (blank)
OnBlur – if #u has val “” (blank) then change it back to “Username…”
Onfocus – if #p has val “Password…” then change it to “” (blank) ; additionally here the val of attribute type should be changed to “password” from “text”…
OnBlur – if #u has val “” (blank) then change it back to “Password…” ; Again the val of type attribute should be changed back to “text” from “password”…
Rinse and repeat. The functionality of what you’re trying to do looks a lot like the placeholder plugin, though.