Which is the better UX for a user to see their password at the login screen?

These are the two options I'm considering.

  1. Having a tickbox for a 'show password' option, which would let the user see their password. A 'caps lock' icon would be in the password text area which allows the user to see that the caps lock key is on. This is similar to what the Mac uses.

  2. Having an 'eye' icon, similar to the Windows 8 login screen, that allows the user to see the password. A 'caps lock' annotation would be below the password textbox. This is more inline with Windows.

I must admit that the 'eye' icon of Windows 8 is unfamiliar to me, and that not being a Windows user, I never noticed it until somebody pointed it out to me. Which overall is a better experience?