Blowfish is a symmetric cipher designed by Bruce Schneier in 1993. It's designed to be able to replace other ciphers such as DES and IDEA. Unlike those two, it supports a variable key length, from 32 to 448 bits. Sources for more information about this cipher is available at http://www.counterpane.com/blowfish.html, as well as in the book Applied Cryptography, by the same author. Blowfish seems to be one of the more promising ciphers, and it's already widely deployed in cryptography products like:

Blowfish have been proved to be very fast in software, needing only 18 CPU Cycles pr. encrypted byte on a Pentium. It's also very compact, and can live with as little as 5k RAM.

Also worth mentioning is that Blowfish is a Feistel network.