BitLocker Drive Encryption can be used to encrypt any volume on your hard drive, including boot, system, and even removable media. You can now right-click and encrypt any volume from within Windows Explorer. There are several protection methods, including combinations of the Trusted Platform Module (TPM) chip, PIN, password, and smart card.
One of the new features allows removable media, both NTFS and FAT volumes, to be encrypted. You can encrypt removable drives one at a time or require that all removable media be encrypted by default. Encrypted removable media can be decrypted and re-encrypted on any Windows 7 computers, not just the one it was originally encrypted on. Encrypted FAT, exFAT, and FAT32 media can also be shared with Windows XP and Windows Vista clients, but the encrypted data is read-only and cannot be re-encrypted.
Make sure to save your BitLocker recovery information somewhere safe and reliable off your computer. BitLocker is a good encrypter and will scramble your data for good if you cannot supply the recovery password.