TrueCrypt, encryption application
The best encryption software I have found during my 12 years with computer (Since 1997)I spent sometime (around 4 years) with safe house application called SafeDisk, it was great, enables you to create logical encrypted disks.
But now, I got this, this is the best, it enables you to put a second area with a hidden password for your encrypted volume
So that you will have two areas, one inside another to prevent showing valuable data if you were forced to give the password
http://www.truecrypt.org/
Update: 2018-12-26
Looks like project is closed now
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