Short answer. No, there is no way to password protect anything in Outlook
Express. If you assign a Read-Only property to the Inbox.dbx file in the
message store folder, Outlook Express will not open, but that's a hassle.
But that's about the only option available.

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Jim Pickering, MVP, Outlook Express
https://mvp.support.microsoft.com/profile=F9F51EF1-4AE3-4D23-B2D8-1171988A62D6
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> Is there any way to password protect inbox subfolders in OE6?