It is valid for a blind person to lead the prayer and it is not makrooh

The fuqaha’ (may Allah have mercy on them) are unanimously
agreed that it is acceptable to follow a blind person in prayer, whether he
is a haafiz of Qur’aan or not. Although some fuqaha’ regarded his leading
the prayer as makrooh, the correct opinion is that it is not makrooh. 

The fact that his leading the prayer is valid is indicated by
the report narrated by Abu Dawood (503) from Anas (may Allah be pleased with
him), according to which the Prophet (blessings and peace of Allah be upon
him) appointed Ibn Umm Maktoom to lead the people in prayer, and he was a
blind man. Classed as saheeh by al-Albaani (may Allah have mercy on him). 

Ibn Qudaamah (may Allah have mercy on him) said: With regard
to one who is blind, we do not know of any difference of opinion concerning
the validity of his leading the prayer, apart from what is narrated from
Anas, according to which he said: Why do they need him? And it was narrated
from Ibn ‘Abbaas that he said: How can I lead them in prayer when they
correct my position to face the qiblah? But the saheeh reports from Ibn
‘Abbaas state that he led people in prayer when he had become blind, as did
‘Utbaan ibn Maalik, Qataadah and Jaabir. Anas said: The Prophet (blessings
and peace of Allah be upon him) appointed Ibn Umm Maktoom to lead the people
in prayer and he was a blind man. Narrated by Abu Dawood.

End quote from al-Mughni, 2/13 

It says in al-Mawsoo‘ah al-Fiqhiyyah (6/42): There is
no difference of opinion among the fuqaha’ concerning the validity of
following one who is blind or deaf in prayer, because blindness and deafness
are not contrary to any of the actions or conditions of prayer. But the
Hanafis and Hanbalis stated clearly that it is makrooh for a blind man to
lead the prayer, and the Maalikis stated that if a sighted man and a blind
man are equal in virtue, it is preferable for the sighted man to lead the
prayer because he is more able to avoid impurities. The Shaafa‘is said: The
blind man and the sighted man are effectively equal because the blind man
will not look at things that may distract him, so he will have more focus
and humility in prayer, whereas the sighted man can see unclean things so he
is more able to avoid them. This is if the blind man is not careless. But if
he is careless, i.e., he does not guard against unclean things, such as if
he wears a dirty garment, then the sighted man has more right to lead the
prayer than him… End quote. 

The correct view is that it is permissible for a blind man to
lead the prayer and it is not makrooh, because of what is mentioned above
about the Prophet (blessings and peace of Allah be upon him) appointing Ibn
Umm Maktoom to lead the prayer. If it were makrooh, he would not have
appointed him to lead the prayer; he would have appointed someone else. 

As-San‘aani (may Allah have mercy on him) said: The hadeeth
indicates that it is valid for a blind man to lead the prayer and that is
not makrooh. End quote from Subul as-Salaam, 1/383 

An-Nawawi (may Allah have mercy on him) said: The correct
view according to our companions is that the sighted man and the blind man
are equal, as was stated by ash-Shaafa‘i. … And they were unanimously agreed
that there is nothing makrooh about a blind man leading the sighted in
prayer. End quote from Sharh al-Muhadhdhab, 4/181 

Shaykh ‘Abdullah al-Fawzaan (may Allah preserve him) said:
Ibn al-Mundhir said: A blind man leading the prayer is the same as a sighted
man leading the prayer. There is no difference between them and they both
are included in the apparent meaning of the words of the Prophet (blessings
and peace of Allah be upon him): “Let the one who has most knowledge of the
Book of Allah lead the people in prayer.” So whoever has the most knowledge
of Qur’aan is most deserving of leading the prayer. 

End quote from Minah al-‘Allaam Sharh Buloogh al-Maraam,
3/262. 

And Allah knows best.