CamStudio

CamStudio is an Open Source solution to screencasting software.  Open source means it is free.

CamStudio is able to record all screen and audio activity on your computer and create industry-standard AVI video files and using its built-in SWF Producer can turn those AVIs into lean, mean, bandwidth-friendly Streaming Flash videos (SWFs).

CamStudio does not come with any video editing features.

I have not had much luck using CamStudio.  It seems as though there are bugs in the software, and I couldn’t get it to work with Windows 7.