Developer's decription as given at the promo page:

Protected Folder is designed to password-protect your folders and files from being seen, read or modified in Windows 7, Vista, XP and Server 2008, 2003. It works like a safety box, just drag and drop the folders or files you want to hide or protect into Protected Folder, then no one can see, read or modify them.
Key features:
Extremely Easy to Use;
Hide from View;
Block Access.
Promo page:
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PS: I know that the WOT rating is unsatisfactory, but I have been using Iobit products for 2 years and they are perfecly safe