Several encryption algorithms exist today for securing data in storage and transmission over network systems. The choice of encryption algorithms must weigh performance requirements against the call for protection of sensitive data. This research investigated the processing times of alternative encryption algorithms under specific conditions. The paper presents the architecture of a model multiplatform tool for the evaluation of candidate encryption algorithms based on different data and key sizes. The model software was used to appraise the real-time performance of DES, AES, 3DES, MD5, SHA1, and SHA2 encryption algorithms.