A Winzip archive is not a folder, it's a file. As to where they are when you make a WinZip archive/file - they'll be where you put them, and called whatever you called them. I suggest you go throught the procedure again, and look at all the information on the screen as to where the archive will go, and where you set the name - it's all there.
As to the latest version, check here click here
If you've made WinZip files and lost them, do a Find/Search for *.zip - and you will find all the zipped files in your system - you should be able to identify any you want.