Whenever I need to encrypt a harddrive or a usb stick, I use LUKS with the following options.
cryptsetup luksFormat -c aes-xts-plain -h sha512 -s 512 -y --use-random -i 5000 <dev>
To backup my USB stick, I tar up its contents and encrypt it with openssl. Then copy the tarball to multiple online locations (google drive, my own servers etc).
Note that newer versions of openssl enc
dropped support for XTS ciphers. I therefore switched
to CBC mode.
tar -cJf - -C /media/vault . | openssl enc -e -aes-256-cbc > ~/.vault.tar.xz
In case I lose the USB stick and need to restore its contents:
cat ~/.vault.tar.xz | openssl enc -d -aes-256-cbc | tar -xJf - -C /media/vault