Encrypting a portable hard drive for transporting

Handruin

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What would be the best free option to encrypt a portable hard drive so that it can be shipped to another country and then when given the password/passphrase they can decrypt or access the content?

Is something like TrueCrypt a good option?
 
I fourth the decision. Been using Truecrypt since Fall 2007 with nary a problem. Between TC and SyncBack, I'm happy.

I use Serpent for encryption and Whirlpool for the hash.
 
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