$("#check_your_password").change( function() {
		 var $input = $('input.show_pwd');
		 var change = $(this).is(":checked") ? "text" : "password";
		  var rep = $("<input type='" + change + "' />")
                    .attr("id", $input.attr("id"))
                    .attr("name", $input.attr("name"))
                    .attr('class', $input.attr('class'))
                    .val($input.val())
                    .insertBefore($input);
                $input.remove();
                $input = rep;
	});

/*
<input type='password' id='check_your_password' />
*/