Keeping drafts private

Hello, I have been writing my blog posts on my Desktop and then uploading and publishing them on my WordPress site. I’m now thinking of drafting the posts on my blog’s Content space, instead. That would enable me to test them out at different stages before making them public.

Obviously, I’d need to keep the drafts inaccessible to others until I’ve finalized them and made them public. I understand that I can do so through the Visibility tab – Can’t I? – by using the “Private” or “Password protected” option.

Could anyone tell me about the advantages and disadvantages of each of the two options?

Thank you.
Dogberry