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In this tutorial, Kevin, a Microsoft employee, demonstrates how to password protect a Microsoft Word document using the latest version of Word from Office 365. He explains the importance of safeguarding documents that contain sensitive information, such as financial data. Using an example of his income statement, which includes details about job income, YouTube revenue, and various expenses like credit card bills, mortgages, and student loans, he illustrates the need for privacy. Kevin emphasizes the necessity of security for critical documents to prevent unauthorized access.