A new plugin of mine, FS Registration Password has been recently approved by the WordPress.org plugin review team, so you can check it out on the official plugin repository.
Once activated, a password field will be displayed on the registration form so the user can put in their preferred password during the registration process rather than letting WordPress generates a random password for the user account which they’ll need to set it up on their own later on.
The password field itself works similarly to the one available when the user is resetting their password, so you’ll get a nice progressive enhancement where the password confirmation field will be automatically hidden if Javascript is enabled as well as a password toggle functionality to show them in plaintext.