Since you are starting, I recommend that you try to implement the functionality as the other answers suggest, just to better understand the mechanisms of the platform.
When you're sure, check out the Extendend WPF Toolkit library, which has several useful WPF components. One of them is called WatermarkTextBox and provides exactly the functionality you need. If you need this behavior in more than one place of your application, I recommend using the library instead of manually deploying.
Examples of how to use the component can be found in the second link.
There is, however, a difference as to your original request: in this component, the original text (in your example, "Login") only disappears when the user starts typing. Similar behavior can be seen in several StackOverflow text boxes, such as the 'Editing Summary' and 'search' box.