HideMyFile
From Just Solve the File Format Problem
HideMyFile by Flakron Shkodra is a Win32 program that hides files in another file.
It supports hiding multiple files in another, but doesn't preserve paths. There is no password/encryption option.
It supposedly only supports JPG, but that restriction is trivial to bypass with a simple rename. It appears to combine all the hidden files into a zip file and then appends the zip to the host file, enabling the 'hidden' files to be extracted with WinZip, WinRar or similar.