The password field is used to display a password field where the user can input the value, and it's not visible in a readable form. The user has to click on the eye icon to view the hidden password value that they entered.
You can learn more about how you can add this field to a content type in this article.
Configure more options as per your need
Password field has a few more other properties that can be configured when you add it to a content type, which are:
1. Default
2. Validations:
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- Make it a required field.
- Make it a unique field.
- Make it a private field.
- Add minimum characters limit.
- Add maximum characters limit.
3. More:
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- Add a default value to the field.
- Add some help text to show information in a tooltip.
- Add placeholder value.