There are some good free software here:
AVIedit: It is a great tool to work with .AVI files. It allows you to join and split avi files, extract frames. You can change frame rate, duration, frame size, color depth of your videos and other properties, even without recompression, and convert avi clips to bmp and bmp to avi, animated GIFs etc. and there are some shortcoming, the running speed is too slow even a short video unless you have much free time to wait. The supported format is only .AVI, it does not support MPEG-4 video and others such as virtual dub neither Sonic Foundry Vegas, etc. But it is free anymore.
Virtual Edit: It is a semi-professional software video editing package aimed at ambitious content creators to video novices, who want to produce material with a slick and professional look, on a limited budget.
There is a special video capture utility for users with DV and Digital-8 cameras. If you have a different camera, (for example an analogue Hi

, you must use a third party application or the software provided with your equipment to capture data on to your PC. Then use the 'import' utility in Virtual Edit to add data to your project. Sound good, but also with the free tools the speed is slow and the edit steps are complicated in a way before you read the long help documents and it will not be able to render advanced transitions unless you purchase the full version.
If you are Mac user:
You can choose iMovie. It comes with every new Mac (OS X), now called iMoveHD and it's a part of iLife package. Apple iMovie '05 is an excellent (and free) video editor for the Mac platform, with advanced video editing features and a lot of addon and plug-in support. You can find more information about iMovie at Apple's iLife '05 site. Note that this software is free only if you buy a new Mac. You can purchase it, however, if you just want the software.
AVS Video Editor:
AVS Video Editor is a full-featured editor which include
Video Cutter and splitter for turning your home videos in Hollywood-like masterpieces. You can capture video from video cams and TV tuners, master videos and slideshows with exciting effects and transitions, author and burn DVD, export movies to almost any video format, edit any video and transfer it then directly to iPod, PSP, mobiles and other portable players. The new interface makes advanced video editing a fan and easy task. So it aims at users who intend high speed and excellent quality with some budget.