In addition to protecting folders with passwords, Folder Guard also allows you to completely hide the folders. To hide a folder with Folder Guard, simply assign the Hidden attribute to the folder in question. There are several ways of doing that. For example, you can use the same Wizard that you used to protect a folder with a password, only this time select the second protection method offered:

Press Next, and you should be able to select the desired visibility attribute for the folder:

In addition to the hidden attribute, it's also a good idea to protect the folder with the no access attribute as well, to make other users unable to open files from that folder even if they cannot see them (such as through the previously created shortcuts, for example). To do that, press Next, and select the No access option:

Now resume the protection, and the folder you've made hidden will become invisible to Windows Explorer, Windows applications, MS-DOS programs, command prompt, as well as to the Open/Save As dialogs used by the applications to open and save documents. All files and subfolders that might be located in that folder will be hidden, too, until you pause the protection.