Yes, but only for the one-time purchase version (currently $49.95). The subscription version ($29.95/year) requires annual renewal. The one-time purchase code never expires but only works for the major version you bought (e.g., WinZip Mac 11).
Keka is the most popular free WinZip alternative for Mac. It supports: winzip mac activation code
Corel Corporation (which owns WinZip) maintains an online blacklist of leaked keys. If you enter a code found on a forum, WinZip will connect to the activation server, detect the key as stolen or invalid, and refuse to unlock. Yes, but only for the one-time purchase version
No encryption (password protection), no RAR support, no split archives. no RAR support