I just posted a new article on CodeProject, .NET Encryption Simplified. In my spare time over the last 6 months, I've delved deeper and deeper into the System.Security.Cryptography classes. And you know what I learned? Cryptography is hard.
Anyway, I now have a heavily documented wrapper class that I feel pretty good about. And a much deeper understanding of the key concepts behind symmetric encryption, asymmetric encryption, and the theory of hashing.