libeay32.dll contains encryption functions which allow for coded communications over networks. This file is opensource and is used in many opensource programs to help with SSL communication
Non-system processes like libeay32.dll originate from software you installed on your system. Since most applications store data in your system's registry, it is likely that your registry has suffered fragmentation and accumulated invalid entries which can affect your PC's performance. It is recommended that you
check your registry to identify slowdown issues.