Version 0.3.3 can generate encrypted DCPs: with the keyman application you can now generate KDMs, too.
In version 0.3.2, DCP Builder will not require any registration, and it will be watermark-free.
It took longer than expected, but now you can try the new version 0.3.1, with some bug fix and EXPERIMENTAL support for cryptography. It is only available for Windows 64 bit, at the moment, and other platforms will be added periodically.
How to play a DCP without a server or projector
When your DCP is ready, you may want to test before ingesting it into the DC server. There are some possibilities in this case, mainly using a software player.
For purposes of syntactic correctness of the DCP, I suggest you to use Fraunhofer's EasyDCP player, which has a limited playtime of 15 s, and no color transform, but is great for checking if the XML files are fine.
If you need to preview your full DCP, then you can use digitAll's dcpPlayer, which is quite fast but has a limited time license and watermarks the image.
Another option is to use 3dtv.at's Stereoscopic player, which limits the play-out to 5 minutes but has no time expiration. Anyway, this is very cheap software which you can afford easily.