Compress & Extract Files

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PeaZip & 7-Zip…Both are open source file and archive manager. Both are cross platform, available as portable and can be used to compress or extract files of various types.

PeaZip
1. a) Packing : 7Z, ARC, BZ2, GZ, PAQ/LPAQ, PEA, QUAD/BALZ, TAR, UPX, ZIP;
b) Unpacking only: ACE, ARJ, CAB, DMG, ISO, LHA, RAR, UDF and many more archive types (79 file extensions supported, see full list)
2. Split/join files
3. AE256 encryption
4. Generate random passwords
5. Secure file deletion
6. Checksum and hash files
And more. Find out more from the official website.

7-Zip Main Features:
1. High compression ratio in new 7z format with LZMA compression
2. Supported formats:
a. Packing / unpacking: 7z, ZIP, GZIP, BZIP2 and TAR
b. Unpacking only: RAR, CAB, ISO, ARJ, LZH, CHM, MSI, WIM, Z, CPIO, RPM, DEB and NSIS
3. For ZIP and GZIP formats, 7-Zip provides a compression ratio that is 2-10 % better than the ratio provided by PKZip and WinZip
4. Strong AES-256 encryption in 7z and ZIP formats
5. Self-extracting capability for 7z format
6. Integration with Windows Shell
7. Powerful File Manager
8. Powerful command line version
9. Plugin for FAR Manager
10. Localizations for 69 languages

Find out more from their official website.
7-zip is smaller compared to Peazip but Peazip is more beautiful looking. If you would like to change how 7-zip looks and you are willing to learn by searching on google, that’s good but if you’re the kind that likes to use after installing without any configuration and you like beauty, go for Peazip. 7-zip would be good on old computers and slow computers.