BitCrypt 4.1
BitCrypt is a free stego encryption for Intelligence community and the like. The program allows the user to store any text message in an encrypted form which is hidden within user specified image. The text is encrypted with one of the strongest encryption algorithms in order to strengthen the level of security. The program is distributed in completely functional form as donation-ware

CHAOS Universal 6.2
CHAOS Universal hides secret information in sound, image, and text files (BMP, WAV, TXT, HTML). This sensitive data is being encrypted beforehand. That way files can be sent over the Internet without being discovered by a third party.

BDV DataHider 2.2
Hides your data by several methods: create a Secret Diskette, hide information in bitmaps or any other files. With this program you can prepare a confidential information for invisible transfer over the Internet or on a diskette.

Secret Media 3.0
Secret Media uses a specialized technique of hiding information by embedding messages within seemingly harmless media files. It works by embedding invisible bits of data in otherwise normal graphics and audio files (such as JPG, MP3, WMA, GIF, BMP, or WAV). Using this technology, you can hide sensitive or private text messages in virtually any media file.

ViewPoint 5.01
To avoid any suspicion about your secret your file, it is hidden inside another file (your file is encrypted by the most modern and strong cryptographic algorithms) and the encoding program is also hidden inside another absolutely neutral (but useful) program. As a result your computer has neither secret files nor obvious programs for encrypting information or secrets. The hidden pictures are viewed with the same speed and comfort as usual ones.