TigerCrypt 3.2 has been released. For many common situations it is the most secure file encryption software. direct Java WebStart link
Security features include:
Uses random salt, written as the first 8 bytes to every encrypted file. (new in 3.x)
Uses Bouncycastle provider, which supports the most secure digests and algorithms. By default, SHA-256 is used to generate the key from the password, and 256 bit AES is used for the encryption. (new in 3.x)
Password-erasure in RAM. (new in 3.x)
The encrypted data is indistinguishable from random data. The file format is this: 8 bytes for the (random) salt, then the raw encrypted data as specified in the corresponding algorithm specification.
The password used for decryption cannot be verified. Whatever file is used for decryption, and whatever password is used, TigerCrypt always produces an output file. This makes a brute force attack almost impossible, even more when encrypted files are nested.
Open file format, open encryption standard and open source. This makes it possible for any proficient person to verify that no intentional or unintentional security holes or backdoors exist.
It is also possible to play an encrypted media file (for example from DVD or CD) directly without decrypting it to persistent storage.