How to create place holder textbox in c#

using System;
using System.Collections.Generic;
using System.ComponentModel;
using System.Data;
using System.Drawing;
using System.Linq;
using System.Text;
using System.Windows.Forms;

namespace placeholder
{
    public partial class Form1 : Form
    {
        public Form1()
        {
            InitializeComponent();
        }
        //all working on txtpassword textbox event
        private void txtpassword_MouseClick_1(object sender, MouseEventArgs e)
        {
            //click on textbox clear textbox
            txtpassword.Clear();
        }

        private void txtpassword_KeyPress(object sender, KeyPressEventArgs e)
        {
            //change the color of textbox text and set passwordchar property
            txtpassword.ForeColor = Color.Black;
            txtpassword.PasswordChar = '*';

           
        }
        private void txtpassword_Leave(object sender, EventArgs e)
        {
            //if txtbox not empty then no changes if txtbox value is blank then set property passwordchar and change color
            if(txtpassword.Text=="")
            {

                txtpassword.PasswordChar = '\0';
                txtpassword.ForeColor = Color.LightGray;
            }

        }
    }
}