Windows Live Movie Maker
This is the latest update of the simple humble video editor by Windows. Its simplicity is a pro but also a hindrance. If you want to do some really in depth editing this is not the software for that. If you want to do some quick easy cropping, converting and adding a few effects, this will do the job. This is also great for youth because of it’s easy to understand interface and fun functions. The interface is really simple but it achieves what you want to it do while you create layers and playlists, a lot of other programs could learn something from it. If you want to do some casual editing this is the editor for you but if you want to get more serious there are many other programs for that. The best thing about it other than it being simple is that it is completely free.
Sony Vegas Studio
This is one for the big boys, if you want to get serious with editing and formatting your videos, this is it for you. The program requires a good CPU to use with ease, its functions use a lot of the live ram, so one thing you do need unlike Windows Movie Maker is a good PC. Also if you are willing to get this serious you should know there are some monetary fees ahead. Depending on the version and license you get the price may vary but generally speaking this is a program made with professionals in mind so the price is nearly always high for someone just looking to test it, although there is a 30 day trial for it. If you want the best possible rendering and formatting for your video this is the software for you but be prepared to spend some time learning the ropes.