Index: src/wp-admin/css/install.css
===================================================================
--- src/wp-admin/css/install.css	(revision 37936)
+++ src/wp-admin/css/install.css	(working copy)
@@ -448,6 +448,11 @@
 	display: none;
 }
 
+#toggle-password {
+	display: inline-block;
+	padding-top: 10px;
+}
+
 /**
  * HiDPI Displays
  */
Index: src/wp-admin/setup-config.php
===================================================================
--- src/wp-admin/setup-config.php	(revision 37936)
+++ src/wp-admin/setup-config.php	(working copy)
@@ -199,8 +199,14 @@
 		</tr>
 		<tr>
 			<th scope="row"><label for="pwd"><?php _e( 'Password' ); ?></label></th>
-			<td><input name="pwd" id="pwd" type="text" size="25" value="<?php echo htmlspecialchars( _x( 'password', 'example password' ), ENT_QUOTES ); ?>" autocomplete="off" /></td>
-			<td><?php _e( 'Your database password.' ); ?></td>
+			<td>
+				<input name="pwd" id="pwd" type="password" size="25" placeholder="<?php echo htmlspecialchars( _x( 'password', 'example password' ), ENT_QUOTES ); ?>" autocomplete="off" />
+				<button id="toggle-password" type="button" class="button button-secondary wp-toggle-pw hide-if-no-js" data-toggle="0" aria-label="Show password">
+						<span class="dashicons dashicons-visibility"></span>
+						<span class="text"><?php _e( 'Show' ); ?></span>
+				</button>
+			</td>
+			<td><?php _e( '&hellip;and your MySQL password.' ); ?></td>
 		</tr>
 		<tr>
 			<th scope="row"><label for="dbhost"><?php _e( 'Database Host' ); ?></label></th>
Index: src/wp-includes/script-loader.php
===================================================================
--- src/wp-includes/script-loader.php	(revision 37936)
+++ src/wp-includes/script-loader.php	(working copy)
@@ -397,6 +397,14 @@
 		'ariaHide' => esc_attr__( 'Hide password' ),
 	) );
 
+	$scripts->add( 'setup-config', "/wp-admin/js/setup-config$suffix.js", array(), false, 1 );
+	did_action( 'init' ) && $scripts->localize( 'setup-config', 'setupConfigL10n', array(
+		'show'     => __( 'Show' ),
+		'hide'     => __( 'Hide' ),
+		'ariaShow' => esc_attr__( 'Show password' ),
+		'ariaHide' => esc_attr__( 'Hide password' ),
+	) );
+
 	$scripts->add( 'language-chooser', "/wp-admin/js/language-chooser$suffix.js", array( 'jquery' ), false, 1 );
 
 	$scripts->add( 'user-suggest', "/wp-admin/js/user-suggest$suffix.js", array( 'jquery-ui-autocomplete' ), false, 1 );