Do you forget whats supposed to go in the field the second you tab onto it?
Are you concerned your users will too?
Never fear! This simple plugin places an element of the same type underneath the current element and shows the contents of the title attribute (or whatever attribute you decide to use) as a label until you type text into the box.
It's a very early version, and probably has a few bugs, but I've implemented enough to make it fairly useful I think. Unfortunately when you resize a textarea in webkit, it doesn'r fire the resize event, so I've added a workaround using mousemove (I tried to only capture mousemove if a mousedown had been detected, but to no avail...)
Note: The controls underneath that serve as the hint are disabled, so you may need to adjust some styling.
You can download the scripts here.