7-zip

7-zip is an open source file archive manager for Windows featuring LZMA compression. Most of the source code is under the GNU LGPL license.

• High compression ratio using LZMA compression
• Strong AES-256 encryption in 7z and ZIP formats
• Self-extracting capability for 7z format
• Integration with Windows Shell
• Localizations for 69 languages

Supported formats:

• Packing / unpacking: 7z, ZIP, GZIP, BZIP2 and TAR
• Unpacking only: RAR, CAB, ISO, ARJ, LZH, CHM, MSI, WIM, Z, CPIO, RPM, DEB and NSIS

For an example of the self-extracting capabilities see: Single file Deployment on Windows