Sign in form design – asking for advice on a mockup

I attached mockups of a sign in form with their validation "versions". I would really appreciate some comments about that, especially about the one(s) on the bottom, because I think it violates a few rules (I've read that it's better to make a one-column form and validation is not aligned), but it seems to me like it's more breathing and not so cluttered. Those are the two that I will probably show to the client, but I still hesitate about the bottom proposition (but on the other hand I feel like it's something there.).

To be honest, I've been struggling with this form for a while, I've read a lot of guidelines, rules and good practices and it all seemed obvious, but when I sat to do it it caused me some trouble as I am still a beginner.

None of those elements there I can delete, they're all needed, but at the same time forms should be clean and simple. I look at all of these examples and designs of others and I still have a hard time applying it to my design.

Is even the top design good?

Sorry for the chaotic question.