So recently TrueCrypt 5.0 came out, and to a crypto-noob, all the encryption options are a bit overwhelming. What Encryption Algorithm do you suggest for an encrypted partition on a laptop?
Any of those options is enough to keep 99.99% of people from seeing your data. Obviously the 2 and 3 layer encryption is better at, say, slowing down the NSA. But, tbh, anyone in a position to crack 256 bit keys isn't interested in your data. Unless you are a multi-billion dollar arms dealer or freelance nuclear physicist. In both those cases, you wouldn't be posting here. Your porn and taxes just need to be secured enough to keep a common criminal out, so any of the encryption schemes on that list is good enough. You need to realize, that encryption isn't a magic bullet. 90% of data security is about how you handle data and passwords. Just like hacking often times is more about people then computers, the same is true when hardening your data.
I used AES (Rijndael) and Serpent in programming projects. AES is VERY good because the protection level and decrypt speed. It is sometimes known as Rijndael. IIRC, Serpent was a very close contender in the AES standard. encrypted partition? No, i avoid encrypted-partition because i am more cautious of things going wrong. i want some recoverability. So i only use AES on a file (like virtual folder) and mount it as a seperate drive when i need. The file portability is crucial. Secondly, when HDD dies, i want to be able to dig into HDD surface and rescue that file. IMHO, encrypted partition can be hellish-to-impossible to recover.