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In this tutorial, Kevin demonstrates how to password protect a Microsoft Word document using the latest version of Office 365. He emphasizes the importance of securing sensitive information, such as financial data, that one may not want others to access. He displays an example income statement, which includes details on job income, YouTube revenue, and various expenses like credit card payments, mortgage, and student loans. Kevin introduces the concept of password protection to safeguard critical documents from unauthorized access, highlighting its relevance for personal financial management.