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In this video tutorial, Kevin, a Microsoft employee, demonstrates how to password protect a Microsoft Word document using the latest version included with Office 365. He explains the importance of securing sensitive information, using his own income statement, which includes details about his job income and expenses, as an example of the type of content that may require protection. The tutorial emphasizes protecting critical data from unauthorized access, particularly financial information, while providing a step-by-step guide to implementing password protection in Word documents.