Arrows4Players
Arrows4players is a simple lightweight plugin that fixes the fact that if an arrow is shot, it shouldn't matter who or what shot it! You should be able to pick it up. Now you can. No options... yet because there is no need. Maybe will add in some random destruction of them but tested and should be bug free. Enjoy, because sometimes finding chickens is just not that easy....
If you have any problems please feel free to inform me but I dont see this being a problem for anyone running 1.8
@Liger_XT5 Infinite Arrows enchantment is what you are thinking of.. but its not about player arrows. you always could retake them, unless hit your target. This allows monster fired arrows, that are shot at you but miss, to be picked up. Normally the arrow cant be and infact is still physical. If you break the block it will keep flying to the next block.. This just eliminates this and allows you as a player to pick up the arrows that normally just sit around till they 'rot'. Infact still ponder on making it so arrows randomly break as well... so even player arrows like you said will possible get destroyed from even missing the target.
I haven't tried this yet, but just a theory if the following hasn't been thought of.
Mind if I make a suggestion. Might be complex, but it could cause some issues. If someone is using the enchant, name escapes me, to have near-infinite arrows, they could basically dupe a ton of errors. This would cause some issues on an economy server.
If anything, the easiest way I can see this being done to counteract it, pull an arrow out of the inventory for each shot made, even if they have the enchant or not.