FreeSecurity is an easy to use freeware application that allows you to use encryption to secure your files and safeguard your privacy. FreeSecurity uses strong 128-bit AES encryption (also known as Rijndael), the next generation US Goverment standard for protection of classified information (according to the National Institute of Standards and Technology, it would take about 149 trillion years to break an AES key using usual methods) which offers a great level of protection to your files. Additionally, it offers file compression on the encrypted files.
FreeSecurity is listed and well rated on major download sites and has over 1000 downloads on Download.com alone. You can read user opinions here and see a screenshot here.

FreeSecurity is completely free, doesn't contain any spyware or crapware and doesn't require any registration or another annoying process. However, it cannot be used on illegal activities (you should read the license agreement before using the application).

http://www.c4fe.com/derelict/freesecurity