TrueCrypt

TrueCrypt 6.0

Free
TrueCrypt is a utility that enables users to encrypt a disk
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Free open-source disk encryption software for Windows Vista/XP, Mac OS X, and Linux
Main Features:
* Creates a virtual encrypted disk within a file and mounts it as a real disk.
* Encrypts an entire partition or storage device such as USB flash drive or hard drive.
* Encrypts a partition or drive where Windows is installed (pre-boot authentication).
* Encryption is automatic, real-time (on-the-fly) and transparent.
* Provides two levels of plausible deniability, in case an adversary forces you to reveal the password:
1) Hidden volume (steganography) and hidden operating system.
2) No TrueCrypt volume can be identified (volumes cannot be distinguished from random data).
* Encryption algorithms: AES-256, Serpent, and Twofish. Mode of operation: XTS.

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