Panic Station Plus is a program which can 'hide' all open windows (and their taskbar buttons) with a SINGLE click of the mouse.
Unlike the free edition of this program, this version is quicker at hiding windows, can hide windows with ONE click of the system tray icon, AND can be configured so that any attempt to restore the program from the system tray or to restore any hidden windows requires the input of a password.
Programs are not shut down or closed, merely hidden until the mouse is clicked on the system tray icon again. Instead of clicking the tray icon to hide/show windows, you can assign a 'hot key' to do the same thing (for example, Ctrl+F1) . When windows are hidden, the program's tray icon indicates this by changing colour to red.
The program resides in the system tray (usually the bottom right of the screen). Right clicking on the system tray icon will bring up a menu to hide/restore windows and access the main program screen. When you exit the program, any hidden windows are restored.
Additional features include hiding desktop icons and using ignore and 'only' lists which allow you to control what windows are hidden.