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In this tutorial, Kevin explains how to password protect a Microsoft Word document using the latest version of Office 365. He emphasizes the importance of safeguarding sensitive information, like personal financial data, to prevent unauthorized access. Kevin uses his own income statement as an example, showcasing details such as job income, YouTube revenue, expenses like credit card bills, mortgage payments, and student loans. He highlights the relevance of protecting documents containing critical information, ensuring they remain private and secure.