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Plexx

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Description
Eraser is an advanced security tool for Windows which allows you to completely remove sensitive data from your hard drive by overwriting it several times with carefully selected patterns. Eraser is currently supported under Windows XP (with Service Pack 3), Windows Server 2003 (with Service Pack 2), Windows Vista, Windows Server 2008, Windows 7 and Windows Server 2008 R2.

Features:
It works with Windows XP (with Service Pack 3), Windows Server 2003 (with Service Pack 2), Windows Vista, Windows Server 2008, Windows 7 and Windows Server 2008 R2
Windows 98, ME, NT, 2000 can still be used with version 5.7!
It works with any drive that works with Windows
Secure drive erasure methods are supported out of the box
Erases files, folders and their previously deleted counterparts
Works with an extremely customisable Scheduler

Personal experience: I have used this software in the past and can't complain about it. I'm sure there are other alternatives, but here you go, a nice piece of software.

Note: For portable version, which is provided on PortableApps, please go here.
 

WinAndLinuxTutorials

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I've used that in the past and liked it, but I noticed updates are very slow.

Edit: Last update was 12 days ago and the one before it was 6 months ago: http://filehippo.com/download_eraser/history/