OpenVPN is a robust and highly flexible VPN daemon. OpenVPN supports SSL/TLS security, ethernet bridging, TCP or UDP tunnel transport through proxies or NAT, support for dynamic IP addresses and DHCP, scalability to hundreds or thousands of users, and portability to most major OS platforms.
OpenVPN is tightly bound to the OpenSSL library, and derives much of its crypto capabilities from it.
OpenVPN supports conventional encryption using a pre-shared secret key (Static Key mode) or public key security (SSL/TLS mode) using client & server certificates. OpenVPN also supports non-encrypted TCP/UDP tunnels.
OpenVPN is designed to work with the TUN/TAP virtual networking interface that exists on most platforms.
Overall, OpenVPN aims to offer many of the key features of IPSec but with a relatively lightweight footprint.