Your description of your question does not seem to match your title (your title talks about auto-wiping data, where your question just talks about password protecting it - those are two totally different things, and if you "wipe" the data, password protection really isn't necessary as there will be nothing to see!) So I think we may need some clarification there.
Regarding password protecting the file, it can be done, but I would not count on it.
Excel security is notoriously weak and is VERY easy to break without too much effort by anyone willing to do a little research on the internet.
At best, it acts as a deterement and protects against the "accidental" attempts to see what a user shouldn't.
But it will not prevent anyone motivated to hack it.
So if security is an important piece of this project, Excel is not your best option.