It's been proven that entering passwords on a mobile phone results in a much higher failure rate than desktops.
99% of the time, when entering your passwords on a mobile phone, nobody is over your shoulder. Because of this, we have opted (like many companies these days) to display your password by default on mobile devices, but of course we give you the option to hide it if somebody sneaky is hanging around.
This will result in a much easier time for our members in entering passwords on mobile.
For additional information, please read Stop Password Masking