How to encode vb script so that others cant see the code inside
The other posters have (sensibly) pointed you in the direction of the Microsoft Script Encoder, but just in case you were feeling a false sense of security, you need to understand that it is fairly trivial to unencode your scipts as well:
http://www.aspheute.com/english/20011123.asp
http://www.greymagic.com/security/tools/decoder/
Clearly, encoder with scare away a casual browser. If you have something that you really need to hide, you need to take other measures, for example, wrapping your code in an ActiveX DLL (but even these can be disassembled).
Probably overkill, but worth a mention.
Many of the popular scripting ISE's include a way to compile scripts so that the code is encrypted, but it also helps by packing the engine with the code which helps if you run it on a system that doesn't have the same version, or possibly doesn't have the same script engine. I would recommend something like AdminScriptEditor or PrimalScript