EyeMage IIE
From Just Solve the File Format Problem
EyeMage IIE (In Image Encryption) by Proporta is a Win32 steganography program that can hide either a text message or any sort of file inside a BMP.
It uses either a password or 'IntimaKeys' (basically a series of custom security questions) to encrypt the data.
It doesn't limit itself to LSB, being more willing than other steganography programs to sacrifice image quality for size of hidden data.
Besides steganography, it also offers a 'Pure Noise Image' option which just encodes the data into the smallest possible .bmp