We recommend that you use EncryptSensitiveWithPassword.
If you want to set up package encryption with either EncryptAllWithPassword or EncryptSensitiveWithPassword, be sure to include the package decryption parameter.
You will need to consult Microsoft documentation for a better understanding of
how to set the /DECRYPT option with password in the DTEXEC command line. Information about
the DTEXEC command line options is available here.
In the image below, you can see that in the SQL Server Agent job step, there
is a /DECRYPT option to specify the password you gave the package in Visual
Studio
If you choose to use the option DontSaveSensitive,
all sensitive information like passwords is completely removed from the
package. This option can only be used if you provide your passwords from an
external configuration file or a table.
You may find the following articles useful:
Securing Your SSIS Packages Using Package Protection Level
Access Control for Sensitive Data in Packages