Not sure exactly what you're asking.
1. Are you talking about making letters appear as you type them in masked password fields? If so, go to Settings/Security, then check "Visible Passwords".
2. Are you talking about the trace line on the Swype keyboard? If you want the full trace path shown as you swipe on the keyboard, go to Settings/Language & Keyboard/Swype Settings, then check "Show Complete Trace".
3. Are you talking about the little graphical pop-up that shows which letter you typed as you type it? If so, you need to be using the stock keyboard (not Swype). Long-press on any text field and select "Input Method". Then choose "Touch Input". That will switch the keyboard back to the stock keyboard which has the feature you're talking about.