With an input password type, you can also enable an icon that can show or hide the entire text using the passwordToggleEnabled attribute.

You can also customize same default using these attributes:

Example:

<android.support.design.widget.TextInputLayout
        android:layout_width="match_parent"
        android:layout_height="wrap_content"
        app:passwordToggleContentDescription="@string/description"
        app:passwordToggleDrawable="@drawable/another_toggle_drawable"
        app:passwordToggleEnabled="true">

            <EditText/>

</android.support.design.widget.TextInputLayout>