WP-Member has a custom login widget that can be placed anywhere that widgets are used in your WordPress theme.
You can customize the text of the login widget to suit your needs.
We have placed the login widget right below the search widget in the right sidebar of this demo.
The widget changes automatically when a user is either browsing as a guest or when they log in.
If the visitor to your site is not logged in and browsing as a guest, they will see a login box where they can enter their username and password to log in, along with a link to register.
When a user is logged in, the widget will change to display a welcome message with their username, a link to their profile page, and a link to log out.