SaveSpace2 is a good tool for you to save space on your hard disk by compress files, folder as well as compress image to Jpeg format.
It also allow you to set password to protected compressed files

Functions of the application:

- Compress all files within selected folder to save space

- When you want to reuse the folder's data, restore compressed folder to original state

- Security: support backup using password to protect data

- Compress & reduce size of multi pictures to Jpeg files