In a nutshell: if you're a regular user, we now hide password protected posts completely. This is just a stopgap until we get final handling for password protected posts.
If you have edit permissions, it'll be shown correctly now however.
If the post has a password, hide it for non-editors
Fake password input for editors
This is absolutely ridiculous, but there's no way around it, as core
internally hardcodes the password check **inside get_the_content()**
This is bananas.