This tip will explain exactly how to password protect a folder. For this purpose i will use WINRAR. It is a very user friendly application, and it gets the job done!!!. You can also compress folders to save up some space, so it is very handy indeed. Best of all, you can download it FREE OF CHARGE...HERE
After you have downloaded and installed winrar, we can start. Here is what you should do.
Go to the file or folder you wish to password protect, right click on the folder, and choose to "Add to archive".
Go to the "advanced" tab, and choose to set password. Enter your password. Click OK to proceed.
Now your password is set, so you can close the application.
Now you will note that if you want to open the file or folder which is protected, you will be asked to enter your password. Just enter the password, and you will be allowed to use the contents.
If at any point you have forgotten the password of your folder, you will be able to recover the password by having a look at my recovery tip HERE
I really hope that you can find this tip helpful. Please rate accordingly.