From a Security standpoint... (imho) I would REALLY be careful about copying/altering/storing and other methods of similar implementation.

There are different laws in different States and Countries that deal with when/how this information can get manipulated. You also take what may have been a secure or semi-secure method over years of programming and testing and reduce it down to an easily compromised system.

If you do decide to do what project it is you're doing, I'd say maybe do a DUAL blank screen. Kind of like most Windows apps do anyways. They DO NOT show you the password, but make you blindly type it TWICE to guarantee that you typed the same password before committing the change.