what is draft?

Draft is when you are still composing the post…say your phone rings and you come back to it later and finish the post and publish it.
Private is when you can view the post with a password. The post is published and only the author of the post can see the private post.
It’s my understanding that private posts will soon be in a release. Which would mean that others can see your private post with a password.

One small correction: SG’s definition of draft is correct, but private is actually different. Private is a post like a personal journal entry that is not meant to be published, and is only viewable by the author on their post/edit page. It’s a way to hide an old entry you don’t want around anymore, but might still want to keep, or whatever.
Password protected posts are completely seperate, and are in the latest beta (0.72-beta-2). When a post is published and has something in the password protected field, instead of displaying directly a form is displayed. The site visitor can enter a password in that form and if that password matches the post password than the post is displayed. To remove password protection from a post just edit the post and delete the password. Easy peasy.

Thank you for that correction, Allusion! ?? With the password protection, will that cover RSS feeds as well? For instance, someone only reads a blog with a newsreader. What will they see on the password protected post: title, post, nothing?

thank you for your answer..

Asking once again, when will password protected posts be enabled? If they are in the latest release, explain how to do it as I have looked and cannot find it. Thanks!

The title remains public – the RSS feeds and archives (and comments on the post and the comments RSS feed) are protected.

Thanks Alex. ??