Is it possible to create a password protected page?

Yes.  Follow the below instructions to create a password protected page:

1. Create a new page in the Pages menu.
   
2. Above the Publish button where it says Visibility, click Edit and select Password Protected.
   

3. It will prompt you to create a password.
4. Publish the page.
5. Now when someone visits that page they will be prompted for a password.