Always been my drive but used on Windows. I removed the password on a windows machine and can now access it but now want to re instate the password protection but having a problem now in that seems like mac does not recognize the freecom software to do it. The password.exe file is there but does not run to install.
You are trying to run password.exe on a Mac?? That won't work. Mac OS X does not recognize or run exe files. The password.exe program is a Windows only program. There are options for using the program on a Mac but not within OS X. You will have to use something like bootcamp or vmware or an emulator.
It sounds like you're trying to use a Windows encryption program on the external drive and setting a password with the Freecom software. Just use FileVault instead and set your password using the FileVault software. You can find FileVault in your System Preferences, Security & Privacy, FileVault tab.