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Vote for Encryption Workshop
Encryption Workshop includes file and folder encryption and decryption tool. Currently nine strong symmetrical block ciphers are implemented: BLOWFISH, GOST, RC 4, DES, Skipjack, TWOFISH, TEA and XOR. Any type of file can be encrypted/decrypted, not only ZIP files. If working with ZIP archives you might want to consider using encryption rather than password protection. Of course, if you are really concerned about privacy of your data, there's nothing to stop you from protecting your archives with password and encrypting them.