procedure TForm1.OpenAPasswordProtectedExcelFileAndSaveAs(Sender: TObject);
var
   ExcelFileName, ExcelFileNameNew, Password: String;
   ExcelApplication, ExcelWorkbook, ExcelWorksheet: Variant;
begin
     //be sure ComObj and Variants units are included in the "uses" clause

     ExcelFileName := 'C:\PhysiologyWeb\delphi_code_examples\excel_file.xlsx';        //replace file name with the name of your file
     ExcelFileNameNew := 'C:\PhysiologyWeb\delphi_code_examples\excel_file_new.xlsx'; //replace file name with the name of your file
     Password := 'physiologyweb';                                                     //replace with password of your file

     ExcelApplication := Null;
     ExcelWorkbook := Null;
     ExcelWorksheet := Null;

     try
        //create Excel OLE
        ExcelApplication := CreateOleObject('Excel.Application');
     except
           ExcelApplication := Null;
           //add error/exception handling code as desired
     end;

     If VarIsNull(ExcelApplication) = False then
        begin
             try
                ExcelApplication.Visible := True; //set to False if you do not want to see the activity in the background
                ExcelApplication.DisplayAlerts := False; //ensures message dialogs do not interrupt the flow of your automation process. May be helpful to set to True during testing and debugging.

                //Open Excel Workbook
                try
                   ExcelWorkbook := ExcelApplication.Workbooks.Open(ExcelFileName, EmptyParam, EmptyParam, EmptyParam, Password, EmptyParam, EmptyParam, EmptyParam, EmptyParam, EmptyParam, EmptyParam, EmptyParam, EmptyParam, EmptyParam, EmptyParam);
                   //reference
                   //https://docs.microsoft.com/en-us/office/vba/api/excel.workbooks.open
                except
                      ExcelWorkbook := Null;
                      //add error/exception handling code as desired
                end;

                If VarIsNull(ExcelWorkbook) = False then
                   begin
                        //connect to Excel Worksheet using either the ExcelApplication or ExcelWorkbook handle
                        try
                           ExcelWorksheet := ExcelWorkbook.WorkSheets[1]; //[1] specifies the first worksheet
                        except
                              ExcelWorksheet := Null;
                              //add error/exception handling code as desired
                        end;

                        If VarIsNull(ExcelWorksheet) = False then
                           begin
                                ExcelWorksheet.Select;

                                //do what you need with the file before saving with a new name. here we will change the background color for a few cells
                                ExcelWorksheet.Range['A1:E8'].Interior.Color := clYellow;
                                //reference
                                //https://docs.microsoft.com/en-us/office/vba/api/excel.interior.color

                                ExcelWorksheet.Cells[1,1].Select;                                  //selects Cell A1

                                ExcelWorkbook.SaveAs(ExcelFileNameNew);
                                //or
                                //ExcelApplication.WorkBooks[1].SaveAs(NewExcelFileName);
                                //Note: If a file with the new name already exists, it overwrites it. Write additional code to address as desired.
                                //reference
                                //https://docs.microsoft.com/en-us/office/vba/api/excel.workbook.saveas
                           end;
                   end;
             finally
                    ExcelApplication.Workbooks.Close;
                    ExcelApplication.DisplayAlerts := True;
                    ExcelApplication.Quit;

                    ExcelWorksheet := Unassigned;
                    ExcelWorkbook := Unassigned;
                    ExcelApplication := Unassigned;
             end;
        end;
end;