Unless you use an encrypting file system, it's trivially easy to lift data from a drive, no matter the format.
Windows has such a file system, but the one time I experimented with using it, it was really nasty.
You +might could+ use something like TrueCrypt. It's an excellent open source encrypted file system. Essentially, you create a file, say 10GB in size that is encrypted. You then launch truecrypt and "mount" that file, providing a password.
Once mounted, the contents of the file "look like" just another drive letter. You can access it just like a normal drive.
But turn the machine off or logout, and the file dismounts, and the contents are no longer acccessible.
Might not be exactly what you're looking for but it might lead you in the right direction.