How does SSL work? Isn’t there a hole

I wrote a bash script to test cipher suites. It gets a list of supported cipher suites from OpenSSL and tries to connect using each one. If the handshake is successful, it prints YES. If the handshake isn't successful, it prints NO, followed by the OpenSSL error text.

#!/usr/bin/env bash

# OpenSSL requires the port number.
SERVER=$1
DELAY=1
ciphers=$(openssl ciphers 'ALL:eNULL' | sed -e 's/:/ /g')

echo Obtaining cipher list from $(openssl version).

for cipher in ${ciphers[@]}
do
echo -n Testing $cipher...
result=$(echo -n | openssl s_client -cipher "$cipher" -connect $SERVER 2>&1)
if [[ "$result" =~ ":error:" ]] ; then
  error=$(echo -n $result | cut -d':' -f6)
  echo NO \($error\)
else
  if [[ "$result" =~ "Cipher is ${cipher}" || "$result" =~ "Cipher    :" ]] ; then
    echo YES
  else
    echo UNKNOWN RESPONSE
    echo $result
  fi
fi
sleep $DELAY
done

Here's sample output showing 3 unsupported ciphers, and 1 supported cipher:

[@linux ~]$ ./test_ciphers 192.168.1.11:443
Obtaining cipher list from OpenSSL 0.9.8k 25 Mar 2009.
Testing ADH-AES256-SHA...NO (sslv3 alert handshake failure)
Testing DHE-RSA-AES256-SHA...NO (sslv3 alert handshake failure)
Testing DHE-DSS-AES256-SHA...NO (sslv3 alert handshake failure)
Testing AES256-SHA...YES

EDIT: Add flexibility as host and port are provided as parameter to the script

There are several, including those you mentioned - RC4 is common, AES is also available.

See CipherSuite on Wikipedia and also Comparison of TLS implementations. If you open up the security view for a page in your browser, it will show what encryption is being used for that page.