What is the equivalent of 7-Zip on Mac?

Keka is an option.....it can also encrypted, password protect & compress the archives.

https://www.keka.io/en/

To encrypt archive files (like zip files) using Terminal on a Mac, you can use the zip command with the -er flags. 

This will create a password-protected zip archive. 

Use the command zip -er archive_name.zip folder_to_archive/. 

Replace archive_name.zip with your desired archive name and folder_to_archive/ with the path to the folder you want to archive. 

You will then be prompted to enter and verify a password. 

if you wish a gui zip option then there are tons for macOS

The Unarchiver i Mac App Store

Unzip One: RAR ZIP Extractor on the Mac App Store

Is there a similar app as 7-Zip for Windows but for Mac? : r/macapps

more

zip apps macos - Google-

All storage is encrypted by default on recent Mac gear, even if you have not selected a FileVault password. Which means the default state of the files is already password-protected.

For added encryption for cases such as if your macOS login is at risk, Mac usually uses an encrypted volume.

Create a disk image using Disk Utility on Mac - Apple Support

With a folder of stuff you want to protect, Finder > Applications > Utilities > Disk Utility app, from the menu, select File > New Image > Image from Folder. Select the folder you want to password protect.

Other options include Fast User switching, and a second login.

There are lots of GUI apps around that can encrypt files as mentioned in earlier replies, and it’s entirely feasible to create your own tools to do that using the built-in encryption support. The command-line zip and unzip, as well as the openssl command, or by adding a tool such as age.

Rudegar wrote:

if you wish a gui zip option then there are tons for macOS

The Unarchiver i Mac App Store

FWIW, The Unarchiver cannot create .ZIP files, encrypted or otherwise. Nor can any other only extract zip files app.