Microsoft Office bundled note-taking software. OneNote is available for Windows, Mac OS, iOS, Android, Windows Phone, and Symbian.
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Pro Notes can be structured in text boxes
OneNote allows you to arrange text freely on the digital paper mimicking the way it would be done with a real pen on real paper.
Pro It's free on all platforms with free cloud sync
OneNote is available for free as a web app as well as natively on iOS, Android, OS X, and Windows. You can also use OneNote for free on as many devices as you want.
Pro Powerful table editor
Adding and resizing rows and columns is easy and flexible. This makes for an easy way to adjust a note as it grows in content size.
Pro Comprehensive organization methods
Notes can be arranged in sections and pages. This makes it a lot easier to organize ones content in a way that is easily navigable and readable.
Pro Stylus and digitizer pen support
OneNote can be used on all touch capable devices via stylus or digitizer pen making for an intuitive and easy way to take notes by hand, which can often be faster or just preferred over typing.
Pro Integrates with other Microsoft services
Integrates well with Outlook, Office, and OneDrive.
Pro Sharing and collaboration via SkyDrive
Pro Collapsable bulleted list
Makes it easy to quickly look at the high level of notes, and then drill deep into each point.
Pro Offers flexible encryption
Unlike most other apps, you can selectively password protect, and fully encrypt, individual documents or entire folders. This is especially important to many people with data stored in the cloud. As of early this year, even the free version supports encryption. Microsoft has also enhanced their internal security methods for storing data on OneDrive (where OneNote performs sync), which makes it more secure than most of their competitors (including Evernote).
Con Not free/libre
This application is proprietary, and thus cannot be modified or freely distributed.
Con Not available for Linux
There is no native Linux client for OneNote available, and most likely will never be created. Users can use the web based client, but a native app would be a better choice for those that use the app frequently.
Con Platform dependent
OneNote for Mac for example is very different from OneNote for Windows. Because Microsoft has a vested interest in making sure the Windows version is superior, the Mac version tends to lag behind in terms of functionality. Tutorials and other forms of documentation available online generally apply only to the Windows version, which implies non-Windows versions are undocumented.
Even worse, because the documentation rarely, if ever, indicates it only applies to Windows, it's easy to waste hours trying to make non-existent features work. As such, the documentation is "negative documentation" (i.e. worse than no documentation at all).
Con Text editing is weird (poor UX)
When clicking in the middle of a note, it adds something like a text-box positioned in the middle. If you move that field to the bottom right, it gets weirder. You can end-up with an empty note, having an empty text-box 1km to the bottom-right of it.
Con Sync isn't stable
Many users have reported synchronization issues. While not everyone will experience this, it can be difficult to troubleshoot, with some fixes resorting to editing registry keys in Windows when using the Windows client.
Con Copy/paste of text into other apps is pasted as image rather than text
Con You cannot use local OneNote files with the version of OneNote that is included with Windows
There is a difference between the OneNote that is included with Windows 10 and the OneNote that comes with Microsoft Office. The version included with Windows cannot use local OneNote files and requires you to be online to access your notes.
See here for this and other differences.