Finally I got a software which turns your turn your Windows 7 laptop into a WiFi hotspot to share the Internet with friends, co-workers, and mobile devices.
After all the advice offered here, your going to have your wifi broadcast its presence, your crazy.
The whole point of security of a wifi is by not knowing it is there, security through obscurity. If they know it is there (you then have to take strong measures to protect it) then they can try to hack it.
Having this software doesn't resolve all the other pitfalls mentioned as in its your ass on the line for what other on your system connect to
Don't be surprised, remember this is a guy that buys 2x gtx295 cards and then says he doesn't do gaming. Look at his sig, he spent a small fortune(or most likely mommy and daddy did) for that rig just to use it for the most simple tasks.
I just want to learn if there are tweaks. I use my PC mostly to try out new software, use HEX Editor and stuff.
I don't play games, or waste time.
Call me a Nerd. I don't mind.
@Chris Thomas: At least disable SSID broadcasting and enter the SSID manually with your devices, that way you won't be broadcasting to everyone around you that you have wi-fi.
EDIT: Another method to strenghten wi-fi security that i use myself is to enable the wireless MAC filter and only allow certain MAC addresses(the ones from my device's/pc's) to connect to my wi-fi.
To really tighten your security hide your SSID, enable WPA 2 + set a strong password(change it once in a while) and block all unknown MAC addresses connecting to your wi-fi by default. Also change the default admin password and disable remote logging to your router. Change the default internal(LAN) ip's and make them all static ip's.