Making the N8 a WiFi hotspot with a password?

Hi. I've discovered that the school that I go to has really thick walls and they rarely let me connect to the local wifi router. So I decided to be a smart guy, and look for ways to make my phone a wifi hotspot.

I used this Joiku app, but what really made me unhappy was that the free version does not come with a password-protected feature. What I would like is that only people who know the password can use the network to avoid further abuse from simpletons who do not understand that the network is not for downloading.

I believe that one of my hopes is also to connect the phone via USB to my computer, but I use a Mac, so I don't know how this could turn out.

So, give me some advice please !

Hi I downloaded the free programe & could not get it to work so I paid for premium in the that it would work but no good again, when you talk security setting do you mean on the tablet I am trying to tether my phone to or on the phone itself ?