Without a password, anyone can access your Wonder space if they have the space link. With the Space password, you can keep non-admins from entering your space unless they know the password.
How to set a password for your space
Here's how to set a password for your space:
Click on the Menu button (icon with three lines in the bottom left corner)
Click Security
Click Space Password
Toggle the Private Space button
Enter a password
Click the Save button
Notes
Passwords are global, which means one master password will be used by everyone; you might even say one password to rule them all 💍
With an admin link, you can enter the space without the password
If you enter the space as an admin in the past, you can enter the space in the future as an admin without entering the space password (only non-admins need to enter the password when you password-protect your space)