You can not set a password for screen saver in Windows 7, but you can use your Windows User account password for your Windows 7 Screen Saver password.

So, if you do not have a password for your current Windows 7 account, you should set a password for the account firstly:

1: Go to Control Panel, Click “Add or remove user accounts” under User Accounts and Family Safety item;

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Double click a user account which you want to set password, and then “Create a password” for this account:

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The following is the password setting window, after you set password, click Create password button, then a password has been set for current Windows 7 account.

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The next let us Set current windows 7 account password for Screen Saver:

Go to Windows 7 Desktop, right click and select “Personalize”

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Click Screen Saver icon

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In Screen Saver Settings Windows, check on “On resume, display logon screen”, you can select a Screen saver from dropdown list, set a wait time, then click Apply or OK button.

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Done! Now you got a password for your Widows 7 Screen Saver.