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In this video tutorial, Kevin, who works at Microsoft, explains how to password protect a Microsoft Word document using the latest version of Word from Office 365. He emphasizes the importance of securing sensitive information, such as financial data, by setting a password. Kevin demonstrates this process with his own income statement, showcasing personal financial details like job income, YouTube revenue, and various expenses, including credit cards, mortgages, and student loans. He highlights that password protection is essential for keeping critical information private and secure from unauthorized access.