My own experience
I'd like to add more solutions.
Game recording
1. Wegame
It's a free Fraps alternative to record gameplay and share the video online.
2. ScreeToaster
A Web-based screen recorder. I often use it to record som desktop mini game.
3. BB Flashback Express
A free screen recorder which supports webcam recording.
4. DemoCreator
A screen recorder allows you to edit your video with built-in video/audio editor.
Audio recording
Audacity
Surely it's the best sound recording tool, and it's free. You can record many soundtracks at the sametime and sync the video and audio at ease.
Video format converting
Format Factory
A free super multifunctional media converter. It offers All to XXX video format converting and mostly I use it to turn my video into .MP4 for YouTube sharing.
Video Editing
Windows Movie Maker
I think it's enough to help you to create an impressive game video with it. I like its movie op and end authoring features.
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