01. Now Choose for which file or folder (or both) you want to apply Password Protection, Select that File/Folder or Files/Folders [Press Ctrl+Select Multiple Files]
In my example I have chosen a File and a Folder to Password Protect:
02. Right Click them and you will see New options. Select Add to archive... Option:
Now click on Advanced tab and choose Set Password... Option:
03. Once there, Enter password and repeat same for Reenter password for verification and press Ok
Now as you can see there are two more options in above picture, one is to Show password, and as the name implies it Shows you the Password only while entering and the other is Encrypt file names, what this option will do is, whenever anyone tries to Open your Protected file, He or she has to enter the password first to see even the filelist. These two options are completely optional.
04. Now click on General tab and after choosing the File name press Ok
You are successfully made a Password Protected File.
Now whenever someone tries to extract your files to access them, He/She has to enter the password first
Besides this simple Password Protection
you can also choose few extra options while packing it in general tab.
If you have any doubt about anything feel free to ask me and I will