Would it be possible to add an authorization option for sending bitcoin transactions?
Thus, a transaction will not be verified until you authorize it with your password.
This would pretty much eliminate the benefit of stealing a bitcoin wallet if you don't have the password. Its kind of weird that there are all of these "verifications" of transactions but the owner doesn't have the option to verify authenticity.
You can only use a password to protect (= encrypt) the private keys. Once someone has those keys he can do what he wants.