I\'ve spent some time writing an Excel Macro that is potentially worth money to a lot of companies.
How can I lock down the macro to prevent people seeing the source
You can check out this new product at http://hivelink.io, it allows you to properly protect your sensitive macros.
The Excel password system is extremely weak - you can crack it in 2 minutes just using a basic HEX editor. I wouldn't recommend relying on this to protect anything.
I wrote an extensive post on this topic here: Protecting Code in an Excel Workbook?