EZip creates password protected zip archives from files and folders. To protect a file or folder, drag it onto EZip. You're done! This is an AppleScript that I created and exported as an app. It's free, and it works.
Version 1.2:
mouse34Btn for MAC
Apple GeForce 7300 GT Firmware Update for MAC
My Albums for MAC
Clean Disk for MAC
Apple 2007 Aluminum Keyboard Firmware Update for MAC