It's only a myth that you need expensive video editors for video editing tasks like adding scrolling texts, subtitles or custom animations - you will find such features even inside free video editors that we discuss here to help you produce video podcasts, home movies and online web video easily.
But before that, do check the installation DVD that came with your handycam or digital camera - most camera vendors like Sony, Canon and Panasonic generally provide a decent video editing software with the camera. If that doesn't help, here's a list of best and free video editing software:
Windows Movie Maker - The best video editing tool for Windows that's absolutely free and chances are you already have it installed on your computer as part of XP SP2. Microsoft Movie Maker has all the basic video editing tools plus a good collection of transitions and video effects.
There's an in-built movie titler that lets add you styles to text titles including ticker taps, zoom and even the scroll effect. And if you are feeling lazy, just hit the AutoMovie command to have the entire video produced for you with intervention.
Related: How to Edit YouTube Videos with free video editing programs.
Avid Free DV - Avid Free DV, poor cousin of Avid Xpress Pro, has all the basic video and audio editing features and allow you to put video in two tracks simultaneously. They have an extensive collection of tutorials online to help you get started quickly.
Support both Mac OS and Windows XP platform. Infact, you can even play with keyframes for generating custom moves and transitions. Ships with the Avid Title tool.
Online Video Editing Programs
Jumpcut.com - Jumpcut is a web based video editing software and now it's even part of the Yahoo! family. You upload a video or small clips just like importing inside a desktop software.
There are dozens of transitions and special effects. You can import photographs from your Flickr or Facebook account to mix them with the videos. The jumpcut editor is intuitive enough and there is good title support as well. And your movies are published online automatically. Perfect for quick vlogging and video podcasting.
JahShaka* (discontinued) - An open source video editing software that is currently in Alpha stage but has features found only in expensive video editing software suites.
Works on Mac, Linux and Windows. The interface might take some time for you to get started otherwise the software is definitely the most powerful one out there. And the price is just right. $0. Also does 3D effects which you won't find in other free video editors.
Conclusion: While all the above free video editing software will satisfy the needs of most amateurs and home movie makers, you can probably consider Adobe Premiere Elements, Pinnacle Studio, Ulead Studio, Sony Vegas, Nero or Muvee Auto Producer for more features and better control over the final video output. They have trial version to help you try out the software before actually buying it.