The invention relates to a method for decrypting encrypted data stored on a record carrier, to a corresponding method for encrypting data and to corresponding apparatuses. In order to provide a high level of protection for data stored on a record carrier and to prevent that data stored on different record carriers can be decrypted after a decryption algorithm has become known the method for decrypting encrypted data according to the invention comprises the following steps: a) generating a decryption key (DK) using a unique carrier identifier (UDI) associated with said record carrier, a hidden key (HK) stored in a hidden channel on said record carrier and a password key (PK), and b) decrypting said encrypted data stored on said record carrier using said generated decryption key (DK).