It’s very simple, in fact. Open the Power Options through the control panel or start menu search.
On the left-hand side you’ll see a link for “Require a password on wakeup”.
If you still have UAC enabled, you’ll see a link that says “Change settings that are currently unavailable”, which will unlock the options below.
Now you can click the “Don’t require a password” radio button, and then use the Save changes button.
I wouldn’t recommend using this setting if you have a laptop computer that you put into sleep mode while you travel, because if your computer was stolen the thief wouldn’t even have to get through a password to get into your computer.
Not that passwords are all that secure either without encryption.