toggle form field type with jQuery

Question

Is there a way to add a checkbox or radio buttons on a page to toggle form fields between input type "text" and "password"?

The reason I put jQuery in subject line because I'm trying to use it exclusively and I have a lot of confidence in its potential. :)

Thanks.

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UPDATE: I need to toggle because I need the user an ability to come back and review previously entered input. (Tip: This is not a login script.)

Answer 1

I ended up simplifying this into the following solution:

$('input#checkbox').change(function(){
    var type    = ($(this).is(':checked') ? 'text' : 'password'), 
        input   = $('input#password'),
        replace = input.clone().attr('type', type)
        input.replaceWith(replace);
});