What's Your Favorite Free Video Editing Software?

Microsoft Movie Maker

Already installed on newer computers that are running Windows XP, Movie Maker has drag and drop features to make creating and editing your movie easier. Microsoft has many add-ons for this software, and upgrades are available through the website. This is one of the best free video editing software programs available.

Apple iMovie

Apple iMovie is comparable to Windows Movie Maker, but Apple iMovie is used on the Mac operating system. Apple iMovie has many advanced features and add-ons. Unfortunately, the software is only free if you buy a new Mac system. If you want the software without buying the system, it is available for purchase separately. One of the best free video editing programs available for Mac users.


Avid FreeDV

Avid FreeDV is available for both Windows and Mac operating systems, and includes basic video and audio editing capabilities, as well as up to two streams of real-time effects. On the whole, a solid video editing program that is slightly hard to use, but very powerful once you learn its ins and outs.


Wax

Wax is a high performance and flexible free video editing software program. It started out as a college project, and has since grown. Wax is good for both home users and professionals. It can be used as a stand-alone application, or as a plug-in to other video editors. The software also features unlimited video and audio tracks with top-down compositing.

Zwei-Stein

Zwei-Stein is great free video editing software, but the user interface is very technical. It is full featured, offering many different effects. It can edit up to 256 video, audio, and still image clips. There are up to 64 effects, which can be chained serially. An interesting program that's worth looking at.

Although I don't really know anything about video editors, (I've only dabbled in a couple before) lately I've taken interest in editing videos and seeing this question reminded me to do a search for online video editors (I have a Linux Mint system which doesn't have any video capabilities on my computer!)

I found this list which I'll end up taking a further look into:
10 Best And Free Online Video Editing Software

You're talking about video editing...I would like to know myself

Windows Live MovieMaker is great for adding pics/video/audio, captions, credits, effects, animations. Very easy to use.

There are just a few limitations for advanced features such as if you have to enhance the volume of the original audio, so for that I use Microsoft Expression Encoder. But I don't have to do that unless my initial recording was of poor quality.