.attr(): type property can't be changed

.attr(): type property can't be changed

I am trying to change input type from password to text but I am getting the error in the subject.

$('#password').attr("type", "text")

This is strange because this fiddle seems to be working:

http://jsfiddle.net/bgLtoqgj/

Stackoverflow didn't help to clarify:

https://stackoverflow.com/questions/8378563/why-cant-i-change-the-type-of-an-input-element-to-submit

Any ideas?