A parachute is a device that allows an individual to transport from great heights. It can also be used to slow down a vehicle at high speeds by causing drag.
While trapped in the year 1942, Pavel Chekov's YAK-1 was shot down by World War II Nazi fighters. He escaped the damaged airplane by using a parachute. (TOS novel: Home is the Hunter)
In the Julian Bashir, Secret Agent holoprogram, Julian Bashir fell out of a dirigible over Iceland but was equipped with a parachute that slowed his fall and there was a submarine waiting for him after the fall. (DS9 episode: "Our Man Bashir")
On Torgu-Va the Tarn forces would deploy troops to the battlefield by having them jump from airplanes and descend to the planet using parachutes. (TNG novel: The Forgotten War)
James T. Kirk uses a parachute while orbital skydiving over Earth. The parachute folded easily. (TNG comic: "Star Trek Generations")