JavaScript to allow text input fields in IE browsers to have placeholders. Note: the control itself must have the placehoder attribute field present, and jQuery is required.

ie-placeholders.js

$(document).ready(
    function () {
        var ie = navigator.userAgent.match(/msie/i);
        if (ie != null) {
          //fetch all input elements
          var elements = document.getElementsByTagName('input');
          var element;

          //loop through each, giving appropriates ones placeholders
          for (var i = 0; i < elements.length; i++) {
              element = elements[i];

              //only if the input has a placeholder attribute
              if ($(element).attr('placeholder')) {
                  element.style.color = '#999';
                  element.value = $(element).attr('placeholder');

                  //text input fields
                  if (element.type.toLowerCase() == 'text') {
                      $(element).focus(function () {
                          if (this.value == $(this).attr('placeholder')) {
                              if (this.createTextRange) {
                                  var range = this.createTextRange();
                                  range.move('character', 0);
                                  range.select();
                              }
                          }
                      });

                      $(element).blur(function () {
                          if (this.value.length == 0) {
                              this.style.color = "#999";
                              $(this).val($(this).attr('placeholder'));
                          }
                      });

                      $(element).keydown(function () {
                          if (this.value == $(this).attr('placeholder')) {
                              this.style.color = '#000';
                              this.value = '';
                          }
                      });

                      $(element).keyup(function () {
                          if (this.value.length == 0) {
                              this.style.color = "#999";
                              $(this).val($(this).attr('placeholder'));
                              if (this.createTextRange) {
                                  var range = this.createTextRange();
                                  range.move('character', 0);
                                  range.select();
                              }
                          }
                      });
                  }

                  //password input fields
                  if (element.type.toLowerCase() == 'password') {
                      element.type = 'text';

                      $(element).focus(function () {
                          if (this.value == $(this).attr('placeholder')) {
                              if (this.createTextRange) {
                                  var range = this.createTextRange();
                                  range.move('character', 0);
                                  range.select();
                              }
                          }
                      });

                      $(element).blur(function () {
                          if (this.value.length == 0) {
                              this.style.color = "#999";
                              $(this).val($(this).attr('placeholder'));
                              this.type = 'text';
                          }
                      });

                      $(element).keydown(function () {
                          if (this.value == $(this).attr('placeholder')) {
                              this.style.color = '#000';
                              this.value = '';
                              this.type = 'password';
                          }
                      });

                      $(element).keyup(function () {
                          if (this.value.length == 0) {
                              this.style.color = "#999";
                              $(this).val($(this).attr('placeholder'));
                              this.type = 'text';
                              if (this.createTextRange) {
                                  var range = this.createTextRange();
                                  range.move('character', 0);
                                  range.select();
                              }
                          }
                      });
                  }
              }
            }
        }
    }
);