I need to show that this set is closed under matrix multiplication, is there a better way than doing it via a Cayley table? Or rather I assume there is and I just can't get my head around it. Any help would be greatly appreciated.
$\begin{gather*} M= \left\{ \begin{bmatrix} 0 & 1\\ 1 & 0 \end{bmatrix}, \begin{bmatrix} 0 & -1\\ -1 & 0 \end{bmatrix}, \begin{bmatrix} 1 & 0\\ 0 & 1 \end{bmatrix}, \begin{bmatrix} -1 & 0\\ 0 & -1 \end{bmatrix}, \begin{bmatrix} 0 & 1\\ -1 & 0 \end{bmatrix}, \begin{bmatrix} 0 & -1\\ 1 & 0 \end{bmatrix}, \begin{bmatrix} 1 & 0\\ 0 & -1 \end{bmatrix}, \begin{bmatrix} -1 & 0\\ 0 & 1 \end{bmatrix} \right\}\\ \end{gather*}$

Call matrices of this $\begin{pmatrix}*&0\\0&*\end{pmatrix}$ form "diagonal" and matrices of this $\begin{pmatrix}0&*\\*&0\end{pmatrix}$ form "skew diagonal". First prove that the product of diagonal matrices is diagonal, the product of diagonal and skew diagonal is skew diagonal, the product of skew diagonal and diagonal is skew diagonal and that the product of skew diagonal and skew diagonal is diagonal.
Then prove that every entry in the resulting matrices will always be $\pm 1$. Finally note that every matrix which is diagonal or skew diagonal and has entries in $\{\pm 1\}$ is one of your eight.