There's a bunch of applications and script to do this but what I've noticed is that everyone of these are unnecessarily advanced.
What I did is that I developed a _simple_ AppleScript application which you execute to display hidden files and when/if you want to hide them you just execute it again.
set currentStatus to (do shell script "defaults read com.apple.Finder AppleShowAllFiles")
if currentStatus is "YES" then
do shell script "defaults write com.apple.Finder AppleShowAllFiles NO"
do shell script "defaults write com.apple.Finder AppleShowAllFiles YES"
do shell script "KillAll Finder"
Mirror site #1
Mirror site #2