diff --git a/jquery.placeholder.js b/jquery.placeholder.js
index 888d4b7..91862a4 100644
--- a/jquery.placeholder.js
+++ b/jquery.placeholder.js
@@ -12,24 +12,22 @@
 		return;
 	}
 
-	function args($elem) {
-		// Get attributes string from outerHTML
-		var html = $('<div>').append($elem.clone()).html().replace(/<(\w+)\s+(.*)>/, '$2'),
-		    attr,
-		    attrs = {};
-		while ((attr = html.match(/\s*([\w\-]+)=("[^"]*"|'[^']*'|\w+)/))) {
-			// Assign attribute to dictionary, but remove quotes first
-			attrs[attr[1]] = attr[2].replace(/^(["'])(.*?)\1$/, '$2');
-			html = html.replace(attr[0], '');
-		}
-		return attrs;
+	function args(elem) {
+		// Return an object of element attributes
+		var newAttrs = {}, rinlinejQuery = /^jQuery\d+$/;
+		$.each(elem.attributes, function(i, attr){
+			if( !rinlinejQuery.test(attr.name) ){
+				newAttrs[attr.name] = attr.value;
+			}
+		});
+		return newAttrs;
 	}
 
 	function onFocus() {
 		var $input = $(this);
 		if ($input.val() === $input.attr('placeholder') && $input.hasClass('placeholder')) {
 			if ($input.data('placeholder-password')) {
-				$input.next().show().focus().end().remove();
+				$input.hide().next().show().focus();
 			} else {
 				$input.val('').removeClass('placeholder');
 			}
@@ -38,21 +36,28 @@
 
 	function setPlaceholder(elem) {
 		var $replacement,
-		    $elem = $(this);
-		if ($elem.val() === '' || $elem.val() === $elem.attr('placeholder')) {
-			if ($elem.is(':password')) {
-				try {
-					$replacement = $elem.clone().attr({ type: 'text' });
-				} catch(e) {
-					$replacement = $('<input>', $.extend(args($elem), { type: 'text' }));
+		    $input = $(this);
+		if ($input.val() === '' || $input.val() === $input.attr('placeholder')) {
+			if ($input.is(':password')) {
+				if(!$input.data('placeholder-textinput')){
+					try {
+						$replacement = $input.clone().attr({ type: 'text' });
+					} catch(e) {
+						$replacement = $('<input>').attr( $.extend(args($input[0]), {type: 'text'}) );
+					}
+					$replacement
+						.removeAttr('name')
+						.data('placeholder-password', true)
+						.bind('focus.placeholder', onFocus);
+					$input
+						.data('placeholder-textinput', $replacement)
+						.before($replacement);
 				}
-				$replacement.data('placeholder-password', true).bind('focus.placeholder', onFocus);
-				$elem.hide().before($replacement);
-				$elem = $replacement;
+				$input = $input.hide().prev().show();
 			}
-			$elem.addClass('placeholder').val($elem.attr('placeholder'));
+			$input.addClass('placeholder').val($input.attr('placeholder'));
 		} else {
-			$elem.removeClass('placeholder');
+			$input.removeClass('placeholder');
 		}
 	}
 
@@ -70,10 +75,10 @@
 	});
 
 	$.fn.placeholder = function() {
-		return this.filter(':input[placeholder]').bind({
-			'focus.placeholder': onFocus,
-			'blur.placeholder': setPlaceholder
-		}).trigger('blur.placeholder').end();
+		return this.filter(':input[placeholder]')
+			.bind('focus.placeholder', onFocus)
+			.bind('blur.placeholder' , setPlaceholder)
+		.trigger('blur.placeholder').end();
 	};
 
 })(jQuery);
\ No newline at end of file