Placeholder Support for IE6-8

jquery.placeholder.js

/*
Original From: http://kamikazemusic.com/quick-tips/jquery-html5-placeholder-fix/

Additions by Matt Clements
Licence: http://mattclements.mit-license.org/

Adjusted to look at .change too
Added support for textarea's and pre-set values on fields
*/
$(document).ready(function() {
	if (!Modernizr.input.placeholder) {
		$("input").each(function() {
			if ($(this).val() === "" && $(this).attr("placeholder") !== undefined && $(this).attr("placeholder") !== "") {
				$(this).val($(this).attr("placeholder"));
				$(this).addClass("placeholder");
			}
			
			if ($(this).attr("placeholder") !== undefined && $(this).attr("placeholder") !== "") {
				$(this).focus(function() {
					if ($(this).val() === $(this).attr("placeholder")) {
						$(this).removeClass("placeholder").val("");
					}
				});
				$(this).blur(function() {
					if ($(this).val() === "") {
						$(this).val($(this).attr("placeholder"));
						$(this).addClass("placeholder");
					}
				});
				$(this).change(function() {
					if ($(this).val() !== "") {
						$(this).removeClass("placeholder");
					}
				});
			}
		});
		
		$("textarea").each(function() {
			if ($(this).val() === "" && $(this).attr("placeholder") !== undefined && $(this).attr("placeholder") !== "") {
				$(this).val($(this).attr("placeholder"));
				$(this).addClass("placeholder");
			}
			
			if ($(this).attr("placeholder") !== undefined && $(this).attr("placeholder") !== "") {
				$(this).focus(function() {
					if ($(this).val() === $(this).attr("placeholder")) {
						$(this).removeClass("placeholder").val("");
					}
				});
				$(this).blur(function() {
					if ($(this).val() === "") {
						$(this).val($(this).attr("placeholder"));
						$(this).addClass("placeholder");
					}
				});
				$(this).change(function() {
					if ($(this).val() !== "") {
						$(this).removeClass("placeholder");
					}
				});
			}
		});
		
		$('form').submit(function() {
			$("input").each(function() {
				if ($(this).val() === $(this).attr("placeholder")) {
					$(this).val('');
				}
			});
			
			$("textarea").each(function() {
				if ($(this).val() === $(this).attr("placeholder")) {
					$(this).val('');
				}
			});
		});
	}
});

CSS:
.placeholder {color: #CCC;}

Requires jQuery and Modernizer

Changes made to look at undefined, rather than just a blank string - else everything becomes a placeholder

And removed debugging :)