Extra hard disk?

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The problem I'm trying to solve is to let other people use the system but not screw up my files. The "ThinkPad 2nd Hard Disk Drive Adapter for Ultrabay Slim" seems to allow two hard disks, but I can't tell how they work with the security chip.

I think it might work to put a hard disk password on the main hard disk, but will this still allow booting from the second disk without the password?