how do i give password to my folders?

Question

-i am not able to create compressed zip folder
bcoz it is not visible in right click- new

Answer 1

To unlock some folders at once:
Run Password Protect (Start > Programs > Password Protect > Password Protect).
Click Next to skip the intro screen.
Select folders to unlock.
Enter the password.
To select a folder, simply click its name.
To deselect a folder, uncheck its checkbox.

Answer 2

This website direct from MS will give you full directions. You might want to print it.

How To Use Compressed (Zipped) Folders in Windows XP
Source: http://support.microsoft.com/kb/306531