Unfortunately, the default behavior does not allow for this. However, with a bit of JavaScript added to the mix, you can achieve it.
Check out this live fiddle: http://jsfiddle.net/jomanlk/gPBhX/
<input type='text' class='placeholder' data-title='hello'>
$('.placeholder').each(function(){
$(this).data('placeholder', $(this).attr('data-title'));
$(this).val($(this).attr('data-title'));
});
$('.placeholder').live('keydown', function(){
if ($(this).val() == $(this).data('placeholder')) {
$(this).val('');
}
});
$('.placeholder').live('blur', function(){
if ($(this).val().trim() == '') {
$(this).val($(this).data('placeholder'));
}
});
Please note that there is a limitation where pasting text into the box won't clear it, but you can easily address this by also binding to the change event. Keep in mind, this is just a demo.