Encryption is encryption.
Software encryption simply means that a general "CPU" is doing calculations based on the code in a software application. Hardware encryption is basically a dedicated bit of hardware in a CPU that has the specific calculations perminantly programmed in. Hardware encryption is generally considered "faster" and preferred as it does not put (much) load on a CPU, while software encryption can eat away at 10%, or much more, of the available processing power of a CPU.
As far as how secure it is: I have a lock on the front door of my house, is my house secure?
A: all depends on what you are trying to prevent. A simple lock is enough to keep a neighbourhood kid from walking in the house, but not enough to stop a professional thief. If you want something that will make it difficult for others to access it - that lock is good enough. If you have access to data with big value to others ($millions) - you need better encryption.