To answer your layout with the standard layout managers (except GridBag), nest layouts as follows:
BorderLayout
NORTH=BorderLayout // keep everything at the top
WEST=GridLayout(0,1) // the labels
Label "UserName")
Label "Password")
CENTER=GridLayout(0,1) // the fields
Text Field
Password Field
Code would look something like
JPanel outer = new JPanel(new BorderLayout());
JPanel top = new JPanel(new BorderLayout());
JPanel labels = new JPanel(new GridLayout(0,1,3,3));
JPanel fields = new JPanel(new GridLayout(0,1,3,3));
outer.add(top, BorderLayout.NORTH);
top.add(labels, BorderLayout.WEST);
top.add(fields, BorderLayout.CENTER);
labels.add(new JLabel("Username"));
labels.add(new JLabel("Password"));
fields.add(new JTextField());
fields.add(new JPasswordField());
See http://developer.java.sun.com/developer/onlineTraining/GUI/AWTLayoutMgr/ for my (very old) explanation of how to nest layout managers like this.
GridBag is evil incarnate; just about impossible to figure out what the code is doing if you have more than a few components. To show how this would be done, though:
Insets i = new Insets(0,0,0,0);
p.setLayout(new GridBagLayout());
p.add(new JLabel("Username"),
new GridBagConstraints(0, 0, 1, 1, 0, 0,
GridBagConstraints.WEST, GridBagConstraints.NONE, i, 0, 0));
p.add(new JLabel("Password"),
new GridBagConstraints(0, 1, 1, 1, 0, 1,
GridBagConstraints.NORTHWEST, GridBagConstraints.NONE, i, 0, 0));
p.add(new JTextField(),
new GridBagConstraints(1, 0, 1, 1, 1, 0,
GridBagConstraints.CENTER, GridBagConstraints.HORIZONTAL, i, 0, 0));
p.add(new JPasswordField(),
new GridBagConstraints(1, 1, 1, 1, 1, 1,
GridBagConstraints.NORTH, GridBagConstraints.HORIZONTAL, i, 0, 0));
It works, but it's hard to "see" the layout in the code...