I have so far tried Keka and Unarchiver, but they both don't allow browsing the archive content. They simply extract everything contained in the archive which is not a desirable behaviour.
Is there any free (or cheap) alternative to winrar for osx?
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I know you said free.. but The Archive Browser is great and will allow you to preview the items before extracting. In my opinion, this is worth the $3.99.
If you just want to quickly see what is in the archive, grab the BetterZip QuickLook plugin. It is not required to install the BetterZip application.