No doubt encryption can be decrypted with the right tools.
However, it is still recommended that one uses encryption, should
your computer be used for business or study purposes. You don't
want to lose your data, do you? MAC address is another good way to
prevent people from tapping your network. A combination of both
would be the best, but most of us don't really need both to
safeguard our data.
Firewall is also needed, should both defenses break down. Antivirus
is also a must, it will help to detect backdoors planted by
hackers. Nothing is invincible, the best way is not to use
computer, but even then, there are ways to steal your data even if
you are not using the computer.