Forms can be protected with password at two instances, before a form is launched in the designer and before a form is launched a runtime.
The "Design-Time" Password allows the ability to set a password to protect users from accessing the form in the Form Designer. Once the design time password is set, the password will be required the next time the form is opened in the Form Designer. This password is above any table level permissions for tables used in the forms.
The "Run-Time" Password allows the ability to set a runtime password to protect users from accessing the form and viewing the data. When the form is launched in enter, edit or browse mode, the end-user will be required to enter the runtime password. This password is above any table level permissions for tables used in the forms.