Javascript text input fields that display instruction (placeholder) text

Question

What\'s the best way to have a text input field that displays instructions of what to enter in that field in gray. When you focus on that input field, the gray instruction text

Answer 1

html

jQuery

$(function(){
  $('.textbox').focus(function(){
    if (this.value == this.defaultValue) {
        this.value = '';
        $(this).removeClass('default');
    };
  }).blur(function(){
    if (this.value == '') {
        this.value = this.defaultValue;
        $(this).addClass('default');
    };
  });​
});

demo