7-Zip: Free File Compression Utility
7-Zip is a file archiver with a high compression ratio. 7-Zip is open source software, free for personal and commercial use. You can download it for free. Features include High compression ratio in new 7z format with LZMA compression, Strong AES-256 encryption in 7z and ZIP formats, Self-extracting capability for 7z format, Integration with Windows Shell, Powerful File Manager, Command line version, Plugin for FAR Manager, and Localizations for 74 languages.
Supported formats are 7z, ZIP, GZIP, BZIP2 and TAR for Packing / unpacking and ARJ, CAB, CHM, CPIO, DEB, DMG, HFS, ISO, LZH, LZMA, MSI, NSIS, RAR, RPM, UDF, WIM, XAR and Z for Unpacking only.

A portable version is also available for free download.
7Zip works with Windows 98/ME/NT/2000/XP/Vista.
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