Entering password question

Guys i currently have the password sent on my macbook pro. What i wanted to know is can i set it so that it only asks for a password when i either start up the computer or when i open the laptop up from its closed when in sleep mode. I just don't want to put it every time it switches the screen off to save battery when I'm not using it for 5 mins or so. I like the fact it switches the screen off to save battery but i just don't want to keep having to enter the password!. If so how can i do this. Thanks

No. The password requirement is either on or off. I know it may be an inconvenience but it's for your protection especially if you're using the machine in a public place or even at work.

I turned my password off. I am using an IMac so I am the only one using it.
It started to become an inconvience.

I agree. Using an iMac at home and as the only user, a password is not needed.