Let $K$ be a field equipped with the following structure:
- Let $*$ be an involution $*:K\to K,z\mapsto z^*,$ where $*$ preserves field structure and $(z^*)^* = z$ for all $z\in K$.
- Assume that $z^*z\in[0,\infty)$ for all $z\in K$.
Two well-known structures satisfy these properties: $\mathbb R$ (with the identity map) and $\mathbb C$ (with complex conjugation). Any subfields of these examples should also work. Are there any other examples?
Background: This property is crucial for defining the inner product over $\mathbb C$-vector spaces, and I am interested in generalizing inner products to vector spaces over other fields. But if no other "interesting" fields satisfy this property, then there isn't much point to this effort.
Any field that fulfils your conditions is isomorphic to a subfield of $\mathbb C$.
Proof:
First, note that obviously $z^*z\in K$, and your condition 2 implies that lso $z^*z\in\mathbb R$. Therefore $R:=K\cap\mathbb R$ is nonempty. Indeed, it is not hard to show that it is a field, too. Which in particular means that is is a subfield of $\mathbb R$. Since in particular $R$ is ordered, this also implies that $K$ is a field of characteristic $0$. This is important because it allows us to divide by $2$; I'll make use of that in the following. Also, since $R\subseteq\mathbb R$, it inherits the order of $\mathbb R$; this means we can compare elements in $R$.
Now let's take the fact that $z\mapsto z^*$ is an involution. If $z=z^*$ I'll call $z$ symmetric, if $z=-z^*$, I'll call it antisymmetric. This allows us to define a symmetric and an antisymmetric part as \begin{eqnarray} \operatorname{symm}(z)&=\frac12(z+z^*)\\ \operatorname{asym}(z)&=\frac12(z-z^*) \end{eqnarray} so that $z=\operatorname{symm}(z)+\operatorname{asym}(z)$. Note that in the complex numbers, the symmetric part is the real part, and the antisymmetric part is $\mathrm i$ times the imaginary part.
Now if $z=s+a$ where $z$ is symmetric and $a$ is antisymmetric, we have $$z^*z = (s+a)^*(s+a) = s^*s + s^*a + a^*s + a^*a = s^2 - a^2$$
Now let's define the set of symmetric elements, $S=\{z\in K: z=z^*\}$. It is not hard to check that it is a subfield of $K$, let's call it the symmetric subfield.
But that means that $S$ is a field in which the square of any element is a positive real number. Since the real numbers contain all the square roots of all the positive real numbers, this implies that $S$ is isomorphic to a subfield of $\mathbb R$.
Without loss of generality, in the following we can assume $S\subseteq R$. That is, we can decompose any $z\in K$ into a real number and an antisymmetric element of $K$. But for antisymmteric elements of $K$ we have $$(a^2)^* = (a^*)^2 = (-a)^2 = a^2$$ therefore the square of an antisymmetric element is symmetric, and therefore a real number. Moreover we have seen above that $-a^2$ is positive, therefore $a^2$ is negative. Thus the antisymmetric elements of $K$ square to negative real numbers. But that is exactly what the purely imaginary numbers do. Therefore we can map the antisymmetric elements to the imaginary numbers.
But that means that, up to isomorphism, every element of $K$ is the sum of a real number and an imaginary number, that is, a complex number.
And this means that $K$ is isomorphic to a subfield of $\mathbb C$.
Note: I've explicitly used the requirement stated in the comments to the question that the interval from condition $2$ is indeed the real interval. If it were not required to be the real interval, then other solutions would exist.