diff --git a/CHANGELOG.md b/CHANGELOG.md
index 48782100..64a4b5b4 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -8,6 +8,11 @@ FlatLaf Change Log
 - Fixed "endless recursion in font" exception in
   `FlatLaf$ActiveFont.createValue()` if `UIManager.getFont()` is invoked from
   multiple threads. (issue #456)
+- PasswordField: Preserve reveal button state when switching theme. (PR #442;
+  issue #173)
+- PasswordField: Reveal button did not show password if
+  `JPasswordField.setEchoChar()` was invoked from application. (PR #442; issue
+  #173)
 
 
 ## 2.0-rc1
diff --git a/flatlaf-core/src/main/java/com/formdev/flatlaf/ui/FlatPasswordFieldUI.java b/flatlaf-core/src/main/java/com/formdev/flatlaf/ui/FlatPasswordFieldUI.java
index 7630ef16..1461db2f 100644
--- a/flatlaf-core/src/main/java/com/formdev/flatlaf/ui/FlatPasswordFieldUI.java
+++ b/flatlaf-core/src/main/java/com/formdev/flatlaf/ui/FlatPasswordFieldUI.java
@@ -28,6 +28,7 @@ import javax.swing.Action;
 import javax.swing.ActionMap;
 import javax.swing.Icon;
 import javax.swing.JComponent;
+import javax.swing.JPasswordField;
 import javax.swing.JToggleButton;
 import javax.swing.LookAndFeel;
 import javax.swing.SwingUtilities;
@@ -97,6 +98,7 @@ public class FlatPasswordFieldUI
 	private KeyListener capsLockListener;
 	private boolean capsLockIconShared = true;
 	private JToggleButton revealButton;
+	private boolean uninstallEchoChar;
 
 	public static ComponentUI createUI( JComponent c ) {
 		return new FlatPasswordFieldUI();
@@ -303,14 +305,33 @@ public class FlatPasswordFieldUI
 	}
 
 	private void updateEchoChar( boolean selected ) {
-		LookAndFeel.installProperty( getComponent(), "echoChar", selected
-			? '\0'
-			: (echoChar != null ? echoChar : '*'));
+		char newEchoChar = selected
+			? 0
+			: (echoChar != null ? echoChar : '*');
+
+		JPasswordField c = (JPasswordField) getComponent();
+		LookAndFeel.installProperty( c, "echoChar", newEchoChar );
+
+		// check whether was able to set echo char via LookAndFeel.installProperty()
+		// if not, then echo char was explicitly changed via JPasswordField.setEchoChar()
+		char actualEchoChar = c.getEchoChar();
+		if( actualEchoChar != newEchoChar ) {
+			if( selected && actualEchoChar != 0 ) {
+				// use explicitly set echo char
+				echoChar = actualEchoChar;
+				uninstallEchoChar = true;
+			}
+
+			c.setEchoChar( newEchoChar );
+		}
 	}
 
 	/** @since 2 */
 	protected void uninstallRevealButton() {
 		if( revealButton != null ) {
+			if( uninstallEchoChar && revealButton.isSelected() )
+				((JPasswordField)getComponent()).setEchoChar( echoChar );
+
 			getComponent().remove( revealButton );
 			revealButton = null;
 		}