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How to password encrypt a hard drive.

I have a backup 3.5" 1tb hard drive. I need to know a way of encrypting the contents of this drive and require a password to access it. It does NOT have to be any sort of high level government super encryption. Just a format that would be EXTREMELY difficult for your average hacker / thief to crack. Any suggestions from an Expert that has had PERSONAL EXPERIENCE with a particular program? Must be easy to use and cost no more than $60. Free would be nice.
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Kimputer

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The weak point of any protection is the password though. All encryption systems can be broken if you choose a simple password.

Precisely why two-factor authentication is so highly recommended.

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My YubiKey is to the far right.

Another suggestion is to reference a file or passphase (a complete sentence or paragraph of your choosing) and perform a SHA-256 hash against it (could combine with a salt for added measure.)  You'd then use the SHA-256 hash as your actual password.
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THANK YOU SO MUCH!!! I feel that I have received a mini education on passwords and truly appreciate each response! I had NO idea how complicated this subject is and how vulnerable people are. I appreciate ALL you EXPERTS! I apologize for the long response time. Health problems.
Your welcome!  Thanks for the points.

Here's a chart which shows various authentication methods and strengths.

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You can see a password is the weakest method.