can i give password to folder?

Not by default. U need a 3rd Party s/w for that

Try FolderLockXP - its really good

Magic Folders
Go to download.com and search there.
There are many similar softwares mostly shareware or trials.

i use "folder guard xp" but its a trialware for 30 days... if u want it u can purchase it.
on double clicking the folder it gives an option for entering password and after coming out of the folder u can lock it again on a right click option.

Drwback: Doesnt encrypt the contents, so one can access if the system has dual boot or linux live cd.
Advntage: In case u forgot the password u can still access the data and retrieve it.

use advance hide folder or fake folder.both are free.

you may use ntfs and set requied permissions. Maybe this could save yr bucks.

thanx to all for information.