If you're working on an important document in a busy environment and don't want people to see what you're doing at a glance, then you could use a privacy screen on the display or an application that dims areas not in your gaze. Microsoft has patented a system that it believes is superior to both because it makes the document fully encrypted and illegible at all times—apart from the section you're directly looking at on the display.
The patent's details (via Windows Report) are like all such publications...