While looking for alternatives to WinZIP, WinRAR and sundry tools on Windows I chanced upon this great utility called PeaZip, URL: http://peazip.sourceforge.net/. It is open-source and provides support for virtually every important archive format under the sun. It also provides encryption and strong checksums.
I have been using it for several days now and it works fast and extremely well overall. I’d highly recommend it to anyone wanting an all-in-one zip and archiving tool for Windows (or Linux for that matter).