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Free File Encryption Software

TrueCrypt
On-the-fly encryption software, which can create a virtual encrypted disk within a file and mount it as a real disk. It can also encrypt an entire hard disk partition or a storage device such as USB memory stick. TrueCrypt supports plausible deniability.

AxCrypt
AxCrypt - Personal Privacy and Security with AES-128 File Encryption and Compression for Windows 2000/2003/XP/Vista/2008/7. Double-click to automatically decrypt and open documents. Store strong keys on removable USB-devices.

Dekart Private Disk
This is a free (for personal use)encryption program for making encrypted volumes.

ccrypt
ccrypt is a command-line utility for encrypting and decrypting files and streams. Available for many platforms in source code and binaries.

Crypto-Lock
Crypto-Lock is a program that will compress and encrypt your files producing either self-decrypting files or encrypted modules.

mcrypt
mcrypt is a command-line encryption tool that support multiple encryption algorithms modes and is available for windows and linux.

Crypt Edit
A multipurpose text editor / word processor that features MS Office compatibiliy, encryption of binary files with compression, full OLE support and a host of other features. Crypt Edit requires Windows 95 OSR2, Windows 98/2000 or Windows NT 4.0 or later to run.

Blowfish Advanced CS
A file encryption and security tool for the Windows platform that supports a number of different encryption algorithms. This project appears to be inactive.

4t HIT Mail Privacy LITE 1.01
4t HIT Mail Privacy Lite provides a quick and easy way of protecting your communications by embedding your text into an image, combined with a particularly strong encryption method, you can be assured your mail is safe. (i.e., Steganography)