When you add a password to a pst file, every time you start Outlook, a dialog box will ask you for the password. Once you enter the password, the contents of the pst will be accessible to anyone who uses your computer while Outlook is open. If you know the password but are tired of using it, you can remove it or change it and save it to your password list.
1-Right click on the .pst file name in your folder list.
2-Choose Properties (Data Files Properties in Outlook 2010/2013), then Advanced button.
3-Click Change Password button.
4-Type your password in the Old password field.
5-Leave the New password and Verify fields blank.
6-Click Ok and work your way back to Outlook.
This dialog is also accessible from File, Account Settings, Data File tab. Select the pst file and click Settings.
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