As USB Pen drives are a hand held device, there are chances for losing or theft. This tool helps you password protect your documents and folders by encrypting them using AES 256 bits encryption algorithm.
The utility is very simple to use. After downloading the tool, copy it in your USB drive. Then run it. After giving the password click OK.
Then simply drag and drop files and folders from your USB drive into the program’s windows to quickly protect your sensitive documents.
With USB Safeguard (download it at source), Your data is secure while the drive it is out and about with you in an Internet cafe's or at work.
Update: Some users emailed me that anti-virus Kaspersky detected a Trojan in this tool. Check this Virustotal analysis link.