TrueCrypt is a software application used for on-the-fly encryption (OTFE). It is free and open source software. TrueCrypt is available for Microsoft Windows, Mac OS X, and Linux. This software can protect date. It encrypts data stored on a computer's disk and transparently decrypts the information when a user requests it. No special action by the user is required. From the Linux.com article:
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Last month the TrueCrypt Foundation released TrueCrypt 5.0, which finally introduces a Linux GUI for the cross-platform encryption application. TrueCrypt 5.0's numerous other enhancements include a Mac OS X port, XTS operation mode, the ability to encrypt a system partition or drive under Windows, and the addition of the SHA-512 hash algorithm