Is there a way to create a passworded folder? Nothing too special, but I don't need a whole file vault setup. Just something with a password AND MAYBE some light encryption (if possible)
I think most people use disk utility and create a mountable disk image instead. Then it mounts as a drive, can be encrypted, and you can easily assign a password to it.
Open up the "Disk Utility" application
File > New > Disk Image from Folder
Choose which folder you want to protect
choose "AES-128" encryption and press Save
Enter your desired password twice
Just be aware that (AFAIK) if you use encryption you cant practically use Time Machine on it because every TM backup will copy the entire folder/disk every time any change is made, rather than individual files. So if you had a 2Gb disk image and added a 1k file into it, TM would have to copy the entire 2Gb and not the 1k file.