Use Virtualbox (was from Sun, now Oracle) at work a lot for running Linux VM's under Windows. VMWare Player is another tool which does the same sort of thing. Both are free.
That's assuming you want to virtualise under an existing OS instead of installing a bare-metal hypervisor.
There's loads VMWare Player, VirtualBox, Microsoft Virtual PC, the list goes on. Personally I recommend VirtualBox and VMWare Player, as they support 64-bit VMs (for some reason Microsoft didn't when I tried it).
I've tried Virtual PC, Virtualbox and VMWare Player. In my experience, in terms of performance, Virtual PC is the poorest and VMWare is by far the best.
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