Your problem stems from your terms.
'Edit' can be applied on something that either the user has typed in, or that was retrieved by the system into the field. You edit the known, you cannot edit the unknown.
Since most systems store passwords in a non-retrievable form, the term often associated with this process is Enter New Password rather than Edit Password. It is important to note that the latter can raise security concerns amongst users: "If they allow me to edit my password, that means someone can see it".
In system where the password is retrievable (and thus editable, like with 1Password) the convention is to put a constant and high number of asterisks, as this increase security - the constant number means people can't identify short passwords, the high number will put off potential vicious bystanders.
However, in forms that do provide, say 8 asterisks with no ability to see the password (and I've seen some of these in my life), users may be misled to think their password is made of 8 characters.
My recommendation would be to dump the "Edit Password" concept completely and replace it with "Enter New Password", the form of which will have blank field/s.