Short answer: type the text, pick a size and an opacity, then press “Watermark and download”. Every page gets the stamp as real content, so it prints and survives forwarding. 15% diagonal is the usual setting for a readable page.
Why opacity matters more than the words
A watermark people cannot read past gets the file rejected; one nobody notices does nothing. Light grey at 10–20% behind the text keeps every word legible and still marks the page. Long text is shrunk to fit the diagonal rather than running off the edge.
What a watermark does and does not do
It records where a copy came from and discourages casual reuse. It does not stop anyone from copying the file, and it is not encryption. If the document must not be opened by the wrong person, the honest answer is a password, not a stamp — this page will not pretend otherwise.