The open password is real protection. The file is encrypted with AES-256 and cannot be read without it. Pick a long password and keep it in a password manager.
You can also ask readers to block printing, copying or editing. PDF programs honour these, but anyone with the password can remove them. Treat them as a request, not a lock.
Open the Protect tab, add the PDF, type the password twice, tick any restrictions and press Protect PDF.
Open the new file in a PDF reader. It should ask for the password. Keep the original until you have confirmed that the password works.
It cannot be recovered. Nobody, including this tool, can open the file without it.
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