The guest account always had very limited permissions, unfortunately since activating FileVault on Lion it's deactivated by default. (More about it here: [Unable to create Guest Account after enabling FileVault](https://apple.stackexchange.com/questions/18205/unable-to-create-guest-account-after-enabling-filevault).)

Is it possible to give the guest account a password? Or can I create a regular account with the normal guest account's privileges (hence making a pseudo-guest account)?

I simply need FileVault and a limited account for my guest! :)