As you might know, TrueCrypt abruptly just… “went away” in May of 2014. For those that are using it to create encrypted virtual drives, or to encrypt your hard drive, should look for other alternatives.
For me, I’m going to use BitLocker on my Windows 8.x devices. I wrote an exhaustive blog article on how to do this, step-by-step, with screenshots. You can find that here:
If you are not clear on why you should care about this, here’s an excerpt from that article that explains the problem:
Imagine your laptop is stolen.
That’s bad! But what’s worse if that you have OneDrive, Google Drive, DropBox, Copy, etc – all syncing ALL of your files to C:UsersPersonDocuments for example. “But you’d have to know my Windows password!”, you exclaim. No, I can pull the hard drive from your laptop, hook it up to a second system and now I can see ALL of your files from ALL of those synced cloud drive locations.
Makete Cheasier has some good alternatives too, which you might want to pursue: http://www.maketecheasier.com/truecrypt-alternatives/