Camil Staps asked this question back in April 2013, as although it is generally accepted that using a BIOS password is good practice, he couldn’t see what protection this would provide, given, in his words, “…there aren’t really interesting settings in the BIOS, are there?”
While Camil reckoned that the BIOS only holds things like date and time, and enabling drives etc., the answers and comments point out some of the risks, both in relying on a BIOS password and in thinking the BIOS is not important! …