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BitLocker Drive Encryption offers strong encryption for entire drives, with the encryption secured by a password or a smart card. To encrypt the system drive, the PC must have a Trusted Platform Module. BitLocker To Go is ideal for USB flash drives and doesn't require any extra hardware.
BitLocker To Go was previously only available in Ultimate and Entrprise Windows editions. With Windows 8 it will be available with the mainstream business SKU, Windows 8 Pro.
If you forget the password for a flash drive protected by BitLocker To Go, your data is lost for good. Unless you can come up with a recovery key, that is. Windows 8 builds in the option to save the recovery key to your SkyDrive account, where it's secure but readily accessible.