diff --git a/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/block.tsx b/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/block.tsx
index 3202c8a0368..7bd211e3415 100644
--- a/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/block.tsx
+++ b/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/block.tsx
@@ -11,18 +11,21 @@ import { ContactFormValues, getSetting } from '@woocommerce/settings';
 import {
 	StoreNoticesContainer,
 	CheckboxControl,
-	ValidatedTextInput,
 } from '@woocommerce/blocks-components';
 import { useDispatch, useSelect } from '@wordpress/data';
 import { CHECKOUT_STORE_KEY } from '@woocommerce/block-data';
 import { CONTACT_FORM_KEYS } from '@woocommerce/block-settings';
 import { Form } from '@woocommerce/base-components/cart-checkout';
 
+/**
+ * Internal dependencies
+ */
+import CreatePassword from './create-password';
+
 const CreateAccountUI = (): React.ReactElement | null => {
-	const { customerPassword, shouldCreateAccount } = useSelect( ( select ) => {
+	const { shouldCreateAccount } = useSelect( ( select ) => {
 		const store = select( CHECKOUT_STORE_KEY );
 		return {
-			customerPassword: store.getCustomerPassword(),
 			shouldCreateAccount: store.getShouldCreateAccount(),
 		};
 	} );
@@ -72,32 +75,7 @@ const CreateAccountUI = (): React.ReactElement | null => {
 					} }
 				/>
 			) }
-			{ showCreateAccountPassword && (
-				<ValidatedTextInput
-					type="password"
-					label={ __( 'Create a password', 'woocommerce' ) }
-					className={ `wc-block-components-address-form__password` }
-					value={ customerPassword }
-					required={ true }
-					customValidityMessage={ (
-						validity: ValidityState
-					): string | undefined => {
-						if (
-							validity.valueMissing ||
-							validity.badInput ||
-							validity.typeMismatch
-						) {
-							return __(
-								'Please enter a valid password',
-								'woocommerce'
-							);
-						}
-					} }
-					onChange={ ( value: string ) =>
-						__internalSetCustomerPassword( value )
-					}
-				/>
-			) }
+			{ showCreateAccountPassword && <CreatePassword /> }
 		</>
 	);
 };
diff --git a/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/create-password.tsx b/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/create-password.tsx
new file mode 100644
index 00000000000..68e4b2b85df
--- /dev/null
+++ b/plugins/woocommerce-blocks/assets/js/blocks/checkout/inner-blocks/checkout-contact-information-block/create-password.tsx
@@ -0,0 +1,68 @@
+/**
+ * External dependencies
+ */
+import { __ } from '@wordpress/i18n';
+import { useState } from '@wordpress/element';
+import { ValidatedTextInput } from '@woocommerce/blocks-components';
+import { useDispatch, useSelect } from '@wordpress/data';
+import { CHECKOUT_STORE_KEY } from '@woocommerce/block-data';
+
+/**
+ * Internal dependencies
+ */
+import PasswordStrengthMeter from '../../password-strength-meter';
+
+const CreatePassword = () => {
+	const [ passwordStrength, setPasswordStrength ] = useState( 0 );
+	const { customerPassword } = useSelect( ( select ) => {
+		const store = select( CHECKOUT_STORE_KEY );
+		return {
+			customerPassword: store.getCustomerPassword(),
+		};
+	} );
+	const { __internalSetCustomerPassword } = useDispatch( CHECKOUT_STORE_KEY );
+
+	return (
+		<ValidatedTextInput
+			type="password"
+			label={ __( 'Create a password', 'woocommerce' ) }
+			className={ `wc-block-components-address-form__password` }
+			value={ customerPassword }
+			required={ true }
+			errorId={ 'account-password' }
+			customValidityMessage={ (
+				validity: ValidityState
+			): string | undefined => {
+				if (
+					validity.valueMissing ||
+					validity.badInput ||
+					validity.typeMismatch
+				) {
+					return __( 'Please enter a valid password', 'woocommerce' );
+				}
+			} }
+			customValidation={ ( inputObject ) => {
+				if ( passwordStrength < 2 ) {
+					inputObject.setCustomValidity(
+						__( 'Please create a stronger password', 'woocommerce' )
+					);
+					return false;
+				}
+				return true;
+			} }
+			onChange={ ( value: string ) =>
+				__internalSetCustomerPassword( value )
+			}
+			feedback={
+				<PasswordStrengthMeter
+					password={ customerPassword }
+					onChange={ ( strength: number ) =>
+						setPasswordStrength( strength )
+					}
+				/>
+			}
+		/>
+	);
+};
+
+export default CreatePassword;
diff --git a/plugins/woocommerce-blocks/assets/js/blocks/checkout/password-strength-meter/index.tsx b/plugins/woocommerce-blocks/assets/js/blocks/checkout/password-strength-meter/index.tsx
new file mode 100644
index 00000000000..e37d7b4cd55
--- /dev/null
+++ b/plugins/woocommerce-blocks/assets/js/blocks/checkout/password-strength-meter/index.tsx
@@ -0,0 +1,119 @@
+/**
+ * External dependencies
+ */
+import { sprintf, __ } from '@wordpress/i18n';
+import { useInstanceId } from '@wordpress/compose';
+import { passwordStrength } from 'check-password-strength';
+import { usePrevious } from '@woocommerce/base-hooks';
+import { useEffect } from '@wordpress/element';
+import clsx from 'clsx';
+
+/**
+ * Internal dependencies
+ */
+import './style.scss';
+
+declare global {
+	interface Window {
+		zxcvbn: ( password: string ) => {
+			score: number;
+		};
+	}
+}
+
+const scoreDescriptions = [
+	__( 'Too weak', 'woocommerce' ),
+	__( 'Weak', 'woocommerce' ),
+	__( 'Medium', 'woocommerce' ),
+	__( 'Strong', 'woocommerce' ),
+	__( 'Very strong', 'woocommerce' ),
+];
+
+/**
+ * Renders a password strength meter.
+ *
+ * Uses zxcvbn to calculate the password strength if available, otherwise falls back to check-password-strength which
+ * does not include dictionaries of common passwords.
+ */
+const PasswordStrengthMeter = ( {
+	password = '',
+	onChange,
+}: {
+	password: string;
+	onChange?: ( strength: number ) => void;
+} ): React.ReactElement | null => {
+	const instanceId = useInstanceId(
+		PasswordStrengthMeter,
+		'woocommerce-password-strength-meter'
+	) as string;
+
+	let strength = -1;
+
+	if ( password.length > 0 ) {
+		if ( typeof window.zxcvbn === 'undefined' ) {
+			const result = passwordStrength( password );
+			strength = result.id;
+		} else {
+			const result = window.zxcvbn( password );
+			strength = result.score;
+		}
+	}
+
+	const previousStrength = usePrevious( strength );
+
+	useEffect( () => {
+		if ( strength !== previousStrength && onChange ) {
+			onChange( strength );
+		}
+	}, [ strength, previousStrength, onChange ] );
+
+	return (
+		<div
+			id={ instanceId }
+			className={ clsx( 'wc-block-components-password-strength', {
+				hidden: strength === -1,
+			} ) }
+		>
+			<label
+				htmlFor={ instanceId + '-meter' }
+				className="screen-reader-text"
+			>
+				{ __( 'Password strength', 'woocommerce' ) }
+			</label>
+			<meter
+				id={ instanceId + '-meter' }
+				className="wc-block-components-password-strength__meter"
+				min={ 0 }
+				max={ 4 }
+				value={ strength > -1 ? strength : 0 }
+			>
+				{ scoreDescriptions[ strength ] ?? '' }
+			</meter>
+			<div
+				id={ instanceId + '-result' }
+				className="wc-block-components-password-strength__result"
+			>
+				{ !! scoreDescriptions[ strength ] && (
+					<>
+						<span className="screen-reader-text" aria-live="polite">
+							{ sprintf(
+								/* translators: %s: Password strength */
+								__(
+									'Password strength: %1$s (%2$d characters long)',
+									'woocommerce'
+								),
+								scoreDescriptions[ strength ],
+								password.length
+							) }
+						</span>{ ' ' }
+						<span aria-hidden={ true }>
+							{ scoreDescriptions[ strength ] }
+						</span>
+					</>
+				) }
+			</div>
+		</div>
+	);
+};
+
+export default PasswordStrengthMeter;
diff --git a/plugins/woocommerce-blocks/assets/js/blocks/checkout/password-strength-meter/style.scss b/plugins/woocommerce-blocks/assets/js/blocks/checkout/password-strength-meter/style.scss
new file mode 100644
index 00000000000..ffa5f7652d7
--- /dev/null
+++ b/plugins/woocommerce-blocks/assets/js/blocks/checkout/password-strength-meter/style.scss
@@ -0,0 +1,73 @@
+.wc-block-components-password-strength {
+	&.hidden {
+		opacity: 0;
+	}
+	.wc-block-components-password-strength__meter {
+		margin: $gap-small 0 0;
+		width: 100%;
+		display: block;
+		height: 6px;
+		border-radius: 4px;
+		border: 0;
+		background-color: $universal-border-light;
+		color: $alert-red;
+
+		&::-webkit-meter-bar,
+		&::-webkit-meter-inner-element {
+			background: none;
+			border: 0;
+			height: 6px;
+			vertical-align: middle;
+		}
+		&::-webkit-meter-optimum-value,
+		&::-webkit-meter-even-less-good-value,
+		&::-webkit-meter-suboptimum-value {
+			background: none;
+			background-color: currentColor;
+			transition: 0.2s ease;
+			border-radius: 3px;
+			border: 0;
+			height: 6px;
+			vertical-align: middle;
+		}
+
+		&:-moz-meter-optimum::-moz-meter-bar,
+		&:-moz-meter-sub-optimum::-moz-meter-bar,
+		&:-moz-meter-sub-sub-optimum::-moz-meter-bar {
+			background: none;
+			background-color: currentColor;
+			transition: 0.2s ease;
+			border-radius: 3px;
+			border: 0;
+			height: 6px;
+			vertical-align: middle;
+		}
+	}
+	.wc-block-components-password-strength__result {
+		@include font-size(smaller);
+		display: block;
+		text-align: right;
+		margin: $gap-smallest 0 0;
+		color: $alert-red;
+
+		&::after {
+			content: "\00a0 ";
+		}
+	}
+	.wc-block-components-password-strength__meter[value="1"],
+	.wc-block-components-password-strength__meter[value="1"] + .wc-block-components-password-strength__result {
+		color: $alert-red;
+	}
+	.wc-block-components-password-strength__meter[value="2"],
+	.wc-block-components-password-strength__meter[value="2"] + .wc-block-components-password-strength__result {
+		color: #ff6f00;
+	}
+	.wc-block-components-password-strength__meter[value="3"],
+	.wc-block-components-password-strength__meter[value="3"] + .wc-block-components-password-strength__result {
+		color: $alert-yellow;
+	}
+	.wc-block-components-password-strength__meter[value="4"],
+	.wc-block-components-password-strength__meter[value="4"] + .wc-block-components-password-strength__result {
+		color: $alert-green;
+	}
+}
diff --git a/plugins/woocommerce-blocks/package.json b/plugins/woocommerce-blocks/package.json
index 9c2ff5fdc8f..d627512f2ff 100644
--- a/plugins/woocommerce-blocks/package.json
+++ b/plugins/woocommerce-blocks/package.json
@@ -275,6 +275,7 @@
 		"@wordpress/url": "3.13.0",
 		"@wordpress/wordcount": "3.47.0",
 		"change-case": "^4.1.2",
+		"check-password-strength": "^2.0.10",
 		"clsx": "^2.1.1",
 		"compare-versions": "4.1.3",
 		"config": "3.3.7",
diff --git a/plugins/woocommerce-blocks/packages/checkout/utils/validation/get-validity-message-for-input.ts b/plugins/woocommerce-blocks/packages/checkout/utils/validation/get-validity-message-for-input.ts
index b8314b3a620..fda88d7e26b 100644
--- a/plugins/woocommerce-blocks/packages/checkout/utils/validation/get-validity-message-for-input.ts
+++ b/plugins/woocommerce-blocks/packages/checkout/utils/validation/get-validity-message-for-input.ts
@@ -34,7 +34,7 @@ const defaultValidityMessage =
 const getValidityMessageForInput = (
 	label: string | undefined,
 	inputElement: HTMLInputElement,
-	customValidityMessage?: ( validity: ValidityState ) => string
+	customValidityMessage?: ( validity: ValidityState ) => string | undefined
 ): string => {
 	// No errors, or custom error - return early.
 	if ( inputElement.validity.valid || inputElement.validity.customError ) {
diff --git a/plugins/woocommerce-blocks/packages/components/text-input/types.ts b/plugins/woocommerce-blocks/packages/components/text-input/types.ts
index e7313171851..cfea0a0923b 100644
--- a/plugins/woocommerce-blocks/packages/components/text-input/types.ts
+++ b/plugins/woocommerce-blocks/packages/components/text-input/types.ts
@@ -20,6 +20,8 @@ export interface ValidatedTextInputProps
 	ariaDescribedBy?: string | undefined;
 	// id to use for the error message. If not provided, an id will be generated.
 	errorId?: string;
+	// Feedback to display alongside the input. May be hidden when validation errors are displayed.
+	feedback?: JSX.Element | null;
 	// if true, the input will be focused on mount.
 	focusOnMount?: boolean;
 	// Callback to run on change which is passed the updated value.
@@ -37,9 +39,7 @@ export interface ValidatedTextInputProps
 		| ( ( inputObject: HTMLInputElement ) => boolean )
 		| undefined;
 	// Custom validation message to display when validity is false. Given the input element. Expected to use inputObject.validity.
-	customValidityMessage?:
-		| ( ( validity: ValidityState ) => undefined | string )
-		| undefined;
+	customValidityMessage?: ( validity: ValidityState ) => undefined | string;
 	// Custom formatted to format values as they are typed.
 	customFormatter?: ( value: string ) => string;
 	// Whether validation should run when focused - only has an effect when focusOnMount is also true.
diff --git a/plugins/woocommerce-blocks/packages/components/text-input/validated-text-input.tsx b/plugins/woocommerce-blocks/packages/components/text-input/validated-text-input.tsx
index d13bb6b4266..583690fa340 100644
--- a/plugins/woocommerce-blocks/packages/components/text-input/validated-text-input.tsx
+++ b/plugins/woocommerce-blocks/packages/components/text-input/validated-text-input.tsx
@@ -50,6 +50,7 @@ const ValidatedTextInput = forwardRef<
 			value = '',
 			customValidation = () => true,
 			customValidityMessage,
+			feedback = null,
 			customFormatter = ( newValue: string ) => newValue,
 			label,
 			validateOnMount = true,
@@ -241,12 +242,14 @@ const ValidatedTextInput = forwardRef<
 				id={ textInputId }
 				type={ type }
 				feedback={
-					showError ? (
+					showError && hasError ? (
 						<ValidationInputError
 							errorMessage={ passedErrorMessage }
 							propertyName={ errorIdString }
 						/>
-					) : null
+					) : (
+						feedback
+					)
 				}
 				ref={ inputRef }
 				onChange={ ( newValue ) => {
diff --git a/plugins/woocommerce/changelog/add-password-field-component-48628 b/plugins/woocommerce/changelog/add-password-field-component-48628
new file mode 100644
index 00000000000..497941d8689
--- /dev/null
+++ b/plugins/woocommerce/changelog/add-password-field-component-48628
@@ -0,0 +1,4 @@
+Significance: minor
+Type: enhancement
+
+Add strength meter to block checkout password field.
diff --git a/plugins/woocommerce/src/Blocks/BlockTypes/Checkout.php b/plugins/woocommerce/src/Blocks/BlockTypes/Checkout.php
index dc18934ed18..60737382791 100644
--- a/plugins/woocommerce/src/Blocks/BlockTypes/Checkout.php
+++ b/plugins/woocommerce/src/Blocks/BlockTypes/Checkout.php
@@ -94,10 +94,17 @@ class Checkout extends AbstractBlock {
 	 * @return array|string
 	 */
 	protected function get_block_type_script( $key = null ) {
+		$dependencies = [];
+
+		// Load password strength meter script asynchronously if needed.
+		if ( ! is_user_logged_in() && 'no' === get_option( 'woocommerce_registration_generate_password' ) ) {
+			$dependencies[] = 'zxcvbn-async';
+		}
+
 		$script = [
 			'handle'       => 'wc-' . $this->block_name . '-block-frontend',
 			'path'         => $this->asset_api->get_block_asset_build_path( $this->block_name . '-frontend' ),
-			'dependencies' => [],
+			'dependencies' => $dependencies,
 		];
 		return $key ? $script[ $key ] : $script;
 	}
diff --git a/pnpm-lock.yaml b/pnpm-lock.yaml
index 97f235e13a2..617a16a3e27 100644
--- a/pnpm-lock.yaml
+++ b/pnpm-lock.yaml
@@ -3928,6 +3928,9 @@ importers:
       change-case:
         specifier: ^4.1.2
         version: 4.1.2
+      check-password-strength:
+        specifier: ^2.0.10
+        version: 2.0.10
       clsx:
         specifier: ^2.1.1
         version: 2.1.1
@@ -13254,6 +13257,9 @@ packages:
     engines: {node: '>=8.3.0'}
     hasBin: true
 
+  check-password-strength@2.0.10:
+    resolution: {integrity: sha512-HRM5ICPmtnNtLnTv2QrfVkq1IxI9z3bzYpDJ1k5ixwD9HtJGHuv265R6JmHOV6r8wLhQMlULnIUVpkrC2yaiCw==}
+
   check-types@8.0.3:
     resolution: {integrity: sha512-YpeKZngUmG65rLudJ4taU7VLkOCTMhNl/u4ctNC56LQS/zJTyNH0Lrtwm1tfTsbLlwvlfsA2d1c8vCf/Kh2KwQ==}
 
@@ -43968,7 +43974,7 @@ snapshots:
       '@babel/code-frame': 7.23.5
       '@babel/parser': 7.23.5
       '@babel/traverse': 7.23.5
-      '@babel/types': 7.24.7
+      '@babel/types': 7.23.5
       eslint: 7.32.0
       eslint-visitor-keys: 1.3.0
       resolve: 1.22.8
@@ -45585,6 +45591,8 @@ snapshots:
       run-parallel: 1.2.0
       semver: 6.3.1
 
+  check-password-strength@2.0.10: {}
+
   check-types@8.0.3: {}
 
   checkstyle-formatter@1.1.0: