Do you have to use
Term::ReadLine? If not, see
perldoc -q password.
First, you put the terminal into "no echo" mode,
then just read the password normally. You may do
this with an old-style ioctl() function, POSIX
terminal control (see POSIX or its documentation the
Camel Book), or a call to the stty program, with
varying degrees of portability.
You can also do this for most systems using the
Term::ReadKey module from CPAN, which is easier to
use and in theory more portable.
use Term::ReadKey;
ReadMode('noecho');
$password = ReadLine(0);
Probably easier using Term::ReadKey.