7Zip is an open-source file archiver and compression software that allows users to create, extract, and manage compressed files. Known for its high compression ratio and support for a wide range of file formats, including ZIP, RAR, and TAR, it also features its own 7z format, which offers better compression than traditional formats. 7-Zip is available for Windows and integrates with the operating system for easy file management via right-click context menus. It supports encryption, password protection, and splitting large archives into smaller volumes, making it a powerful tool for file storage and sharing.