Let's see if I understand what you want correctly. You want a textbox that says (for example): "First Name" inside of it to show users what to enter?
This can be accomplished by setting the text value to "First Name" in design mode. Then, on the GotFocus event, you delete the text inside giving the user a blank textbox to enter their info.
To make it more user friendly, you can have grey text when it's just a label, and black text when its the users entry. You can also test for the text color so you don't delete the user's info if they reenter a textbox.