rar encryption happens to be very good.
you could take years to crack a password if its a good one, even on some of the best pc.
The maximum password lenght is 127 characters and if you mix that with letters, numbers, punctuation, etc its going to take a super computer to crack it.
Also you can tell winrar to create a sfx archive and to hide filenames.
That creates an exe that anyone can open with the correct password without need for winrar. It also makes it where if you don't have the password you can't tell anything about the contents of the file.
As for thumbnail viewer ? That would make the contents not very secure.