Secured Password in PowerShell Script

param (
    $localPath = "F:\Test-Sync01\",
    $remotePath = "/Test-Sync01/"
)
 
try
{
    # Load WinSCP .NET assembly
    Add-Type -Path "F:\syncapp\WinSCPnet.dll"
 
    # Setup session options
    $sessionOptions = New-Object WinSCP.SessionOptions
 
    $sessionOptions.Protocol = [WinSCP.Protocol]::Sftp
    $sessionOptions.HostName = "server08"
    $sessionOptions.UserName = "syncusr"
    $sessionOptions.Password  = "BLBALBLA"
    $sessionOptions.SshHostKeyFingerprint = "ssh-rsa 1024 13:d3:ef:ee:4d:cc:22:31:04:aa:1e:cd:7b:c7:42:02"
    $session = New-Object WinSCP.Session
 
    try
    {
        # Connect
        $session.Open($sessionOptions)
        
        # Synchronize files to local directory, collect results
        $synchronizationResult = $session.SynchronizeDirectories(
            [WinSCP.SynchronizationMode]::Remote, $localPath, $remotePath, $False)
 
        # Iterate over every download
        foreach ($download in $synchronizationResult.Uploads)
        {
            echo $download.FileName
            # Success or error?
            if ($download.Error -eq $Null)
            {
                Write-Host ("Download of {0} succeeded, removing from source" -f
                    $download.FileName)
             
                try
                {
                    Remove-Item $session.EscapeFileMask($download.FileName)
                    Write-Host ("Removing of file {0} succeeded" -f
                        $download.FileName)
                }
                catch [Exception]
                {
                    Write-Host ("Rmoving of file {0} failed" -f
                        $download.FileName)
                }
            }
            else
            {
                Write-Host ("Download of {0} failed: {1}" -f
                    $download.FileName, $download.Error.Message)
            }
        }
    }
    finally
    {
        # Disconnect, clean up
        $session.Dispose()
    }
 
    exit 0
}
catch [Exception]
{
    Write-Host $_.Exception.Message
    exit 1
}

winscp> open "sftp://myuser:***@10.1.0.1" -hostkey ssh1234

$sessionOptions.Password = "***"