Intercept zip decryption key or files from an application

[BoatRacer]

Yes but it heavily depends on the application and how you have access to it. You can decompile the application and look for the password, debug the running application, run a trace on calls that are being made, etc. It depends on what you can do.

Whether it is decompilable or not depends on the language it was written. C#, Java, Python are easily decompilable back to readable code.