Since I’m a lot into editing and stuff I believe I can provide you a list of a few useful Video Editing Softwares that you can use without spending any money on them. On the top of my head I’ve got

1. Windows Movie Maker

Windows Movie Maker usually comes along with your Windows. It is one of the most simplest video editing softwarse that I have ever used, specially the one that came out with Windows Vista because it includes lots of new editing features in it. Not only that you can also access the commands for common tasks quickly by using the toolbars. You can capture, edit and output your favourite video using this tool very easily.

2. VirtualDub

VirtualDub can be run easily with Windows Xp but there is no way you can compare it with Windows Movie Maker because there aren’t enough features in this software but it’s good for quick editing. It lacks the editing power of a general-purpose editor such as Adobe Premiere, but is streamlined for fast linear operations over video. It includes

* Fractional frame rates. Don’t settle for 29 or 30 when you want 29.97.
* Optimized disk access for more consistent hard disk usage.
* Create AVI2 (OpenDML) files to break the AVI 2GB barrier and multiple files to break the FAT32 4GB limit.
* Integrated volume meter and histogram for input level monitoring.
* Real-time downsizing, noise reduction, and field swapping.
* Verbose monitoring, including compression levels, CPU usage, and free disk space.
* Access hidden video formats your capture card may support but not have a setting for, such as 352×480.
* Keyboard and mouse shortcuts for faster operation. To capture, just hit F6.
* Clean interface layout: caption, menu bar, info panel, status bar.

Along with that VirtualDub lets you clean up video on your computer. it’s a pre- and post-processor that works as a valuable companion to one:

* Reads and writes AVI2 (OpenDML) and multi-segment AVI clips.
* Integrated MPEG-1 and Motion-JPEG decoders.
* Remove and replace audio tracks without touching the video.
* Extensive video filter set, including blur, sharpen, emboss, smooth, 3×3 convolution, flip, resize rotate, brightness/contrast, levels, deinterlace, and threshold.
* Bilinear and bicubic resampling — no blocky resizes or rotates here.
* Decompress and recompress both audio and video.
* Remove segments of a video clip and save the rest, without recompressing.
* Adjust frame rate, decimate frames, and 3:2 pulldown removal.
* Preview the results, with live audio.

Download : VirtualDub
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3. Wax

Wax is a wonderful software that is used for compositing and special effects. It has the following features

* Distributed as freeware for business or personal use. However if you want to redistribute Wax, you need to get permission from the author.
* Use graphics acceleration available with your video card for creating mind-boggling effects in realtime or near-realtime.
* Unlimited video and audio tracks with top-down compositing and many compositing modes (audio features are limited at this time).
* 2D and 3D Plugins and transitions for creating effects. Full featured 3D compositing with 3d objects, lighting, shadows, texture generators, etc. Plugins include the following.
o RotoMate – rotoscope/paint over

video with fully keyframmable shapes and masks
o Shatter – create explosive effects
o ModelLoader – load 3d models from .3DS, .MD2 and .MS3d files
o Particle Generator – generate various natural particle effects like fire, smoke, rain etc
o Text 3D – create extruded/beveled 3D text, and much more…
* Plugin Adapter technology – can load and use VirtualDub filters, DirectX plugins, Freeframe plugins and Windows Movie Maker presets inside Wax or your NLE when using Wax as a plugin.
* Full featured project management with media bins/folders, element properties and comments for ease of use.
* Transition and Plugin SDK available for developers to extend functionality by adding external plugins. WinMorph uses this Plugin SDK to extend Wax’s functionality for warping and morphing.
* File input/output through filters, Filter SDK available upon request for developers to extend file format support.
* Input formats : AVI, WAV, all popular image formats.
Output formats : AVI, MPEG, WAV, Flash, all popular image formats.
(AVI and WAV formats support compressed audio too, using Audio Codecs installed in your PC).

Download : Wax

Source

4. iMovie

iMovie supports standard and high definition (HD) video, as well as the most popular video formats, including DV, HDV, MPEG-2 and MPEG-4. iMovie comes free with new Macs. Major new features and enhancements compared to iMovie 3 and its predecessors [3]:

* Direct trimming of video and audio clips in the timeline
* Snapping sync for video and audio, audio waveforms and listening to audio while scrubbing
* Multiple clip selection, direct import from iSight

Other features include (also in earlier versions):

* Full-screen previewing.
* One video track, two audio tracks.
* Sample sound effects included, some from Skywalker Sound.
* Voice-over narration can be recorded from a microphone and added to an audio track.
* Titles with effects such as 3D spin, converge, bounce across and ending credits motion.
* Transitions, such as cross dissolve, disintegrate, twirl, scale down and warp out.
* Video effects, including fast motion, slow motion, reverse fast/slow motion, brightness and contrast, electricity and fairy dust effects.
* Creation of still frames from video.
* Splitting clips.
* Extracting audio from clips.
* Exporting a movie or scene as a QuickTime movie, or sharing it via e-mail, Bluetooth or .Mac homepage, or sending it back to a digital camera.

Download : iMovie
Source

5. ZS4 Video Editor

ZS4 Video Editor is a free editing and compositing software. It’s a great software for those who want unlimited number of Video, audio and image tracks, unlimited effects, resolution independent video, audio/video looping along with variable speed changes

Other features include custom output video width and height, unlimited tracks and sub-composites, custom speed and direction change for video and audio, and the ability to slave effect and compositing controls to audio wave forms.

Download : ZS4 Video Editor For LINUX WINDOW or MAC
Source