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In this tutorial, Kevin demonstrates how to password protect an Excel spreadsheet to prevent unauthorized access to sensitive information such as financial data. He notes that this feature has been available in Excel for various versions, including 2019, 2016, and 2013. Kevin, a full-time employee at Microsoft, guides viewers through the process on his PC with the latest version of Excel from Office 365. By setting a password, users can restrict access to the spreadsheet unless the correct password is entered. This security measure ensures confidentiality and privacy for sensitive data stored in Excel.