Event.observe(window, 'load', function() {
    // Add observers to e-mail field
    $('YourEmailLabel').hide();
    $('YourEmail').value = 'Your email address';

    $('YourEmail').observe('blur', function(event) {
        var email = Event.element(event);
        if (email.value == '') {
            email.value = 'Your email address';
            Element.removeClassName(email, 'black');
            Element.addClassName(email, 'grey');
        }
    });
    $('YourEmail').observe('focus', function(event) {
        var email = Event.element(event);
        if (email.value == 'Your email address') {
            email.value = '';
            Element.removeClassName(email, 'grey');
            Element.addClassName(email, 'black');
        }
    });

    // Add observers to password field
    $('YourPasswordLabel').hide();

    var passwordFieldHelper = document.createElement('input');
    Element.extend(passwordFieldHelper);
    passwordFieldHelper.addClassName('field grey');
    passwordFieldHelper.setAttribute('name', 'passwordFieldHelper');
    passwordFieldHelper.setAttribute('value', 'Your password');

    var passwordField = $('YourPassword');
    passwordField.hide();
    passwordField.insert({ after: passwordFieldHelper });
    passwordField.removeClassName('grey');
    passwordField.addClassName('black');

    passwordFieldHelper.observe('focus', function(event) {
        passwordFieldHelper.hide();
        passwordField.show().focus();
    });

    passwordField.observe('blur', function(event) {
        if (passwordField.value == '') {
            passwordField.hide();
            passwordFieldHelper.show();
        }
    });
});