There are currently use cases where plugins/settings contain sensitive keys such as API keys or client secrets for third party tools. While this will not encrypt them, it will at least obscure them visually from the front end, preventing leaking keys from things such as screen recordings. Making it its own component will also open up further customization options in the future without complicating the basic FieldText component.

This will include a text field with a toggle to hide/show the contents of the field.