Shrink large files further than the built-in tool
7-Zip is free to use and generally achieves a higher compression ratio than the compression built into Windows, while also supporting formats beyond ZIP, such as 7z and RAR, so it can shrink large files down even more.
Password-protect sensitive archives
Setting a password when compressing gives you an extra layer of protection for sensitive files, though it's worth noting that a forgotten password on an encrypted archive generally cannot be recovered, so store it somewhere safe.
Frequently Asked Questions
Should I choose zip or 7z?
Choose zip if compatibility with other people's software matters most, since nearly every program supports it; choose 7z if you want the highest possible compression ratio.
How do I extract a compressed file?
Right-click the archive, choose the "7-Zip" menu, and select "Extract Here" to decompress it into the same folder.